Zacks Investment Research cut shares of Continental Building Products (NYSE:CBPX) from a hold rating to a sell rating in a research report report published on Friday morning.
According to Zacks, “Continental Building Products, Inc. is a manufacturer of gypsum wallboard, joint compound and complementary finishing products. It serves the residential, commercial and repair and remodel construction markets primarily in the eastern United States and eastern Canada. The company sells its products under the LiftLite, Mold Defense and Weather Defense names. Continental Building Products, Inc. is headquartered in Silver Grove, Quebec. “
CBPX has been the subject of several other research reports. ValuEngine downgraded shares of Continental Building Products from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Jefferies Financial Group reissued a hold rating and set a $35.00 price objective on shares of Continental Building Products in a research report on Friday, August 3rd. Raymond James lowered their price objective on shares of Continental Building Products from $40.00 to $36.00 and set a buy rating for the company in a research report on Wednesday, October 24th. Stephens set a $31.00 price objective on shares of Continental Building Products and gave the stock a hold rating in a research report on Thursday, October 25th. Finally, SunTrust Banks reissued a hold rating and set a $31.00 price objective on shares of Continental Building Products in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $34.33.
NYSE:CBPX traded up $0.49 during trading hours on Friday, hitting $29.74. The stock had a trading volume of 601,166 shares, compared to its average volume of 500,883. Continental Building Products has a one year low of $25.00 and a one year high of $39.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.21 and a current ratio of 3.86. The company has a market capitalization of $1.11 billion, a PE ratio of 22.36, a PEG ratio of 0.50 and a beta of 1.50.
Continental Building Products (NYSE:CBPX) last issued its earnings results on Thursday, November 8th. The construction company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Continental Building Products had a net margin of 14.04% and a return on equity of 19.57%. The firm had revenue of $131.20 million during the quarter, compared to the consensus estimate of $124.65 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Continental Building Products will post 2.01 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Continental Building Products by 4.7% during the second quarter. Rhumbline Advisers now owns 35,551 shares of the construction company’s stock worth $1,122,000 after acquiring an additional 1,607 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Continental Building Products by 176.6% during the second quarter. PNC Financial Services Group Inc. now owns 45,516 shares of the construction company’s stock worth $1,436,000 after purchasing an additional 29,063 shares during the last quarter. Financial Enhancement Group LLC acquired a new position in Continental Building Products during the second quarter worth $201,000. Sheets Smith Wealth Management acquired a new position in Continental Building Products during the second quarter worth $383,000. Finally, Point72 Asset Management L.P. boosted its holdings in Continental Building Products by 190.3% during the second quarter. Point72 Asset Management L.P. now owns 9,000 shares of the construction company’s stock worth $284,000 after purchasing an additional 5,900 shares during the last quarter. 97.92% of the stock is owned by institutional investors.
About Continental Building Products
Continental Building Products, Inc manufactures and sells gypsum wallboard and complementary finishing products in the eastern United States and eastern Canada. The company sells its products to gypsum wallboard distributors, buying groups, wholesalers, and mass merchants in the new residential, repair and remodel, and commercial construction markets under the LiftLite, Mold Defense, and Weather Defense brand names.
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