Foundation Building Materials, Inc. (NYSE:FBM) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 1,206,169 shares, an increase of 89.7% from the July 14th total of 635,808 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 230,117 shares, the days-to-cover ratio is currently 5.2 days.

In related news, CFO John Gorey bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $14.49 per share, with a total value of $144,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ruben Mendoza bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average cost of $13.98 per share, for a total transaction of $195,720.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 24,528 shares of company stock worth $348,096.

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in Foundation Building Materials during the first quarter worth $9,582,000. Spark Investment Management LLC acquired a new stake in Foundation Building Materials during the first quarter worth $1,577,000. Neuberger Berman Group LLC acquired a new stake in Foundation Building Materials during the first quarter worth $10,117,000. JPMorgan Chase & Co. acquired a new stake in Foundation Building Materials during the first quarter worth $133,000. Finally, Oxford Asset Management acquired a new stake in Foundation Building Materials during the first quarter worth $2,108,000. 90.00% of the stock is currently owned by hedge funds and other institutional investors.

Foundation Building Materials (FBM) opened at 12.01 on Wednesday. The firm has a 50 day moving average of $12.18 and a 200-day moving average of $14.54. The company’s market capitalization is $514.81 million. Foundation Building Materials has a 1-year low of $11.12 and a 1-year high of $17.91.

Foundation Building Materials (NYSE:FBM) last released its 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 firm had revenue of $529.20 million for the quarter, compared to analysts’ expectations of $536.72 million. The company’s quarterly revenue was up 95.9% compared to the same quarter last year. On average, equities research analysts anticipate that Foundation Building Materials will post $0.32 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Barclays PLC dropped their price objective on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, Deutsche Bank AG dropped their price objective on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.43.

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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.

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