Foundation Building Materials (NYSE:FBM) Trading Down 7.8%

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Foundation Building Materials Inc (NYSE:FBM)’s share price fell 7.8% on Thursday . The company traded as low as $16.38 and last traded at $17.47, 1,269,902 shares were traded during trading. An increase of 549% from the average session volume of 195,601 shares. The stock had previously closed at $18.94.

Separately, Zacks Investment Research lowered Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Foundation Building Materials has a consensus rating of “Hold” and a consensus target price of $14.33.

The firm has a fifty day moving average price of $17.61 and a 200 day moving average price of $15.05. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.38 and a current ratio of 1.98. The stock has a market cap of $814.20 million, a PE ratio of 47.14 and a beta of 1.46.

Foundation Building Materials (NYSE:FBM) last released its earnings results on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.12. Foundation Building Materials had a return on equity of 9.30% and a net margin of 0.08%. The firm had revenue of $559.91 million for the quarter, compared to the consensus estimate of $574.68 million. During the same period in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Foundation Building Materials Inc will post 0.85 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBM. Royal Bank of Canada grew its stake in shares of Foundation Building Materials by 2.8% in the 2nd quarter. Royal Bank of Canada now owns 35,997 shares of the company’s stock worth $640,000 after purchasing an additional 997 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Foundation Building Materials in the 2nd quarter worth approximately $26,000. Summit Global Investments grew its stake in shares of Foundation Building Materials by 2.6% in the 1st quarter. Summit Global Investments now owns 76,400 shares of the company’s stock worth $752,000 after purchasing an additional 1,900 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Foundation Building Materials in the 2nd quarter worth approximately $36,000. Finally, Aperio Group LLC acquired a new position in shares of Foundation Building Materials in the 2nd quarter worth approximately $38,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

About Foundation Building Materials (NYSE:FBM)

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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