Foundation Building Materials (NYSE:FBM) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.
A number of other research analysts have also recently commented on FBM. Barclays set a $11.00 price target on Foundation Building Materials and gave the company a “buy” rating in a research report on Wednesday, December 12th. Zacks Investment Research raised Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, December 19th. Finally, Credit Suisse Group initiated coverage on Foundation Building Materials in a report on Friday, January 11th. They set a “neutral” rating and a $9.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Foundation Building Materials currently has an average rating of “Hold” and an average target price of $14.80.
Shares of NYSE FBM traded up $0.38 during trading on Thursday, reaching $11.76. 197,200 shares of the stock traded hands, compared to its average volume of 94,886. Foundation Building Materials has a 52-week low of $7.62 and a 52-week high of $16.32. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.39 and a quick ratio of 1.63. The stock has a market capitalization of $493.53 million, a PE ratio of 33.60 and a beta of 1.53.
A number of institutional investors and hedge funds have recently modified their holdings of FBM. Tower Research Capital LLC TRC lifted its holdings in Foundation Building Materials by 216.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,788 shares of the company’s stock worth $122,000 after purchasing an additional 6,694 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Foundation Building Materials by 45.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,925 shares of the company’s stock worth $157,000 after purchasing an additional 5,925 shares in the last quarter. Rhumbline Advisers lifted its holdings in Foundation Building Materials by 42.3% during the 4th quarter. Rhumbline Advisers now owns 20,189 shares of the company’s stock worth $168,000 after purchasing an additional 5,997 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Foundation Building Materials by 292.8% in the 4th quarter. Bank of America Corp DE now owns 28,059 shares of the company’s stock valued at $233,000 after acquiring an additional 20,916 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Foundation Building Materials in the 3rd quarter valued at about $249,000. 90.58% of the stock is currently owned by institutional investors and hedge funds.
About Foundation Building Materials
Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.
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