FGI Industries (NASDAQ:FGI) Upgraded by Zacks Investment Research to “Hold”

FGI Industries (NASDAQ:FGIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

Separately, Northland Securities began coverage on FGI Industries in a research report on Wednesday, February 23rd. They issued an “outperform” rating and a $7.00 target price for the company.

FGI stock traded down $0.03 during mid-day trading on Monday, reaching $2.24. 7,309 shares of the company traded hands, compared to its average volume of 900,729. FGI Industries has a 52-week low of $2.00 and a 52-week high of $6.25. The company has a fifty day moving average price of $2.41.

FGI Industries (NASDAQ:FGIGet Rating) last issued its quarterly earnings results on Monday, March 28th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $52.19 million for the quarter, compared to the consensus estimate of $46.00 million. As a group, sell-side analysts expect that FGI Industries will post 0.38 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of FGI. First Wilshire Securities Management Inc. purchased a new stake in FGI Industries in the first quarter worth $935,000. Jane Street Group LLC purchased a new stake in FGI Industries in the first quarter worth $72,000. Vanguard Group Inc. purchased a new stake in FGI Industries in the first quarter worth $43,000. Finally, Commonwealth Equity Services LLC purchased a new stake in FGI Industries in the first quarter worth $42,000. 73.02% of the stock is currently owned by hedge funds and other institutional investors.

FGI Industries Company Profile (Get Rating)

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, and Europe. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.

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