Foundation Building Materials (FBM) Gets a Buy Rating from Barclays

By Austin Angelo

In a report released yesterday, Matthew Bouley from Barclays maintained a Buy rating on Foundation Building Materials (FBMResearch Report), with a price target of $18.00. The company’s shares closed last Tuesday at $15.54.

According to TipRanks.com, Bouley is a 5-star analyst with an average return of 13.7% and a 61.3% success rate. Bouley covers the Consumer Goods sector, focusing on stocks such as Mohawk Industries, Skyline Champion, and Taylor Morrison.

Currently, the analyst consensus on Foundation Building Materials is a Moderate Buy with an average price target of $16.50.

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Based on Foundation Building Materials’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $524 million and net profit of $14.38 million. In comparison, last year the company earned revenue of $515 million and had a net profit of $3.48 million.

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Foundation Building Materials, Inc. operates as a holding company, which engages in the distribution of wallboard, suspended ceilings systems, metal framing, and complementary products. The firm serves as a link between supplier base and interior contractors who install building products for commercial and residential buildings for both new construction and repair & remodel markets. The company was founded by Ruben D. Mendoza, John Gorey, and Tom Fischbeck in 2011 and is headquartered in Santa Ana, CA.