Foundation Building Materials Inc’s (FBM) Quiet Period Will End Tomorrow

Foundation Building Materials’ (NYSE:FBM) quiet period will end on Wednesday, March 22nd. Foundation Building Materials had issued 12,800,000 shares in its public offering on February 10th. The total size of the offering was $179,200,000 based on an initial share price of $14.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Several equities research analysts have weighed in on the company. Citigroup Inc assumed coverage on Foundation Building Materials in a research note on Tuesday, March 7th. They set a “buy” rating and a $20.00 target price for the company. Raymond James Financial, Inc. assumed coverage on shares of Foundation Building Materials in a report on Tuesday, March 7th. They set an “outperform” rating and a $20.00 price target for the company. Barclays PLC assumed coverage on shares of Foundation Building Materials in a report on Tuesday, March 7th. They set an “overweight” rating and a $19.00 price target for the company. William Blair reiterated a “market perform” rating on shares of Foundation Building Materials in a report on Thursday, March 9th. Finally, Stephens assumed coverage on shares of Foundation Building Materials in a report on Tuesday, March 14th. They set an “overweight” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.86.

Your IP Address:

Foundation Building Materials (NYSE:FBM) opened at 16.19 on Tuesday. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $16.04. Foundation Building Materials has a one year low of $15.05 and a one year high of $17.61.

In other Foundation Building Materials news, SVP Lonnie Ray Sears acquired 10,000 shares of Foundation Building Materials stock in a transaction that occurred on Wednesday, February 15th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $140,000.00. Following the purchase, the senior vice president now owns 10,000 shares of the company’s stock, valued at $140,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard James Tilley acquired 3,600 shares of Foundation Building Materials stock in a transaction that occurred on Wednesday, February 15th. The stock was acquired at an average price of $14.00 per share, with a total value of $50,400.00. Following the completion of the purchase, the vice president now directly owns 3,600 shares in the company, valued at approximately $50,400. The disclosure for this purchase can be found here. Insiders purchased a total of 96,430 shares of company stock valued at $1,350,020 over the last quarter.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.

5 Day Chart for NYSE:FBM

Receive News & Ratings for Foundation Building Materials Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply