Foundation Building Materials, Inc. (NYSE:FBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Foundation Building Materials, Inc. is a specialty distributor of wallboard and suspended ceiling systems primarily in U.S. and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. Specialty building products segment distributes wallboard and accessories, metal framing, suspended ceiling systems and other products. Mechanical insulation segment includes insulation solutions for pipes and mechanical systems. Foundation Building Materials, Inc. is based in Tustin, California. “

A number of other equities research analysts also recently weighed in on FBM. Deutsche Bank AG dropped their price target on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Royal Bank of Canada reissued a “buy” rating and set a $15.00 price target on shares of Foundation Building Materials in a research note on Wednesday, September 6th. Finally, Barclays PLC dropped their price target on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $18.43.

Foundation Building Materials (FBM) traded down 2.11% on Tuesday, reaching $12.52. 135,466 shares of the company’s stock traded hands. The firm’s market capitalization is $536.67 million. The firm’s 50 day moving average price is $13.10 and its 200 day moving average price is $13.10. Foundation Building Materials has a 52-week low of $12.32 and a 52-week high of $17.61.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). The company had revenue of $529.20 million for the quarter, compared to analyst estimates of $536.72 million. The firm’s quarterly revenue was up 95.9% compared to the same quarter last year. On average, analysts predict that Foundation Building Materials will post $0.31 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of Foundation Building Materials during the first quarter worth approximately $133,000. Virtu KCG Holdings LLC bought a new stake in Foundation Building Materials in the second quarter valued at approximately $129,000. The Manufacturers Life Insurance Company bought a new stake in Foundation Building Materials in the second quarter valued at approximately $143,000. Rhumbline Advisers bought a new stake in Foundation Building Materials in the second quarter valued at approximately $175,000. Finally, New York State Common Retirement Fund bought a new stake in Foundation Building Materials in the second quarter valued at approximately $177,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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