Continental Building Products, Inc. (NYSE:CBPX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. BidaskClub upgraded shares of Continental Building Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and issued a $28.00 target price on shares of Continental Building Products in a research report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Continental Building Products has a consensus rating of “Hold” and a consensus target price of $25.25.
Shares of Continental Building Products (NYSE:CBPX) traded up 2.05% during midday trading on Tuesday, hitting $22.45. 434,392 shares of the stock traded hands. Continental Building Products has a one year low of $18.35 and a one year high of $26.53. The stock has a market cap of $880.49 million, a price-to-earnings ratio of 20.62 and a beta of 1.28. The firm has a 50-day moving average price of $22.63 and a 200 day moving average price of $23.89.
Continental Building Products (NYSE:CBPX) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.03. Continental Building Products had a net margin of 9.16% and a return on equity of 15.43%. The business had revenue of $120.60 million for the quarter, compared to the consensus estimate of $127.60 million. During the same period in the prior year, the company earned $0.31 EPS. Continental Building Products’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Continental Building Products will post $1.31 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in Continental Building Products during the second quarter valued at approximately $100,000. BNP Paribas Arbitrage SA boosted its position in Continental Building Products by 128.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,645 shares of the construction company’s stock valued at $132,000 after buying an additional 3,179 shares during the period. First Mercantile Trust Co. boosted its position in Continental Building Products by 1.8% in the second quarter. First Mercantile Trust Co. now owns 6,230 shares of the construction company’s stock valued at $145,000 after buying an additional 110 shares during the period. SG Americas Securities LLC boosted its position in Continental Building Products by 26.7% in the first quarter. SG Americas Securities LLC now owns 8,340 shares of the construction company’s stock valued at $204,000 after buying an additional 1,759 shares during the period. Finally, Legal & General Group Plc boosted its position in Continental Building Products by 9.5% in the second quarter. Legal & General Group Plc now owns 9,279 shares of the construction company’s stock valued at $216,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.
Continental Building Products Company Profile
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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