Foundation Building Materials (FBM) Receives a Buy from Barclays

By Ryan Adsit

Barclays analyst Matthew Bouley maintained a Buy rating on Foundation Building Materials (FBMResearch Report) yesterday and set a price target of $24.00. The company’s shares closed last Monday at $20.76, close to its 52-week high of $21.71.

According to TipRanks.com, Bouley is a 5-star analyst with an average return of 13.8% and a 69.8% success rate. Bouley covers the Industrial Goods sector, focusing on stocks such as Cornerstone Building Brands, Builders Firstsource, and BMC Stock Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Foundation Building Materials with a $22.00 average price target.

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The company has a one-year high of $21.71 and a one-year low of $7.62. Currently, Foundation Building Materials has an average volume of 446.5K.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FBM in relation to earlier this year.

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