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 analysts have also issued reports on FBM. ValuEngine lowered shares of Zogenix from a strong-buy rating to a buy rating in a research report on Thursday, April 11th. TheStreet raised shares of Zimmer Biomet from a c rating to a b- rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Foundation Building Materials presently has an average rating of Hold and an average price target of $12.33.
FBM opened at $17.55 on Wednesday. Foundation Building Materials has a 12-month low of $7.62 and a 12-month high of $18.21. The company has a quick ratio of 1.40, a current ratio of 2.05 and a debt-to-equity ratio of 1.86. The stock has a market cap of $754.47 million, a price-to-earnings ratio of 50.14 and a beta of 1.48. The stock’s 50 day simple moving average is $16.20.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Foundation Building Materials had a negative net margin of 0.35% and a positive return on equity of 7.22%. The company had revenue of $514.87 million during the quarter, compared to analyst estimates of $509.19 million. During the same period last year, the firm posted ($0.03) EPS. Foundation Building Materials’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Foundation Building Materials will post 0.8 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of FBM. American Century Companies Inc. grew its stake in Foundation Building Materials by 24.5% in the 4th quarter. American Century Companies Inc. now owns 2,307,794 shares of the company’s stock valued at $19,178,000 after acquiring an additional 453,540 shares during the period. BlackRock Inc. raised its holdings in Foundation Building Materials by 3.2% in the 4th quarter. BlackRock Inc. now owns 836,340 shares of the company’s stock valued at $6,950,000 after buying an additional 25,880 shares during the period. Dalton Greiner Hartman Maher & Co. raised its holdings in Foundation Building Materials by 7.3% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 597,114 shares of the company’s stock valued at $5,876,000 after buying an additional 40,768 shares during the period. Boston Partners raised its holdings in Foundation Building Materials by 3.5% in the 1st quarter. Boston Partners now owns 209,314 shares of the company’s stock valued at $2,060,000 after buying an additional 7,125 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Foundation Building Materials by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 148,277 shares of the company’s stock valued at $1,232,000 after buying an additional 18,943 shares during the period. 90.22% 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 offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
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