Continental Building Products (CBPX) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Continental Building Products (NYSE:CBPX) from a hold rating to a strong-buy rating in a report published on Tuesday. Zacks Investment Research currently has $31.00 price target on the construction company’s stock.

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. “

Several other brokerages have also recently weighed in on CBPX. Jefferies Group initiated coverage on Continental Building Products in a research report on Tuesday, December 12th. They set a hold rating and a $28.00 price target for the company. BidaskClub upgraded Continental Building Products from a hold rating to a buy rating in a research report on Friday, November 3rd. Barclays raised their price objective on Continental Building Products from $25.00 to $27.00 and gave the company an equal weight rating in a report on Friday, November 10th. Citigroup dropped their price objective on Continental Building Products from $13.00 to $11.50 and set a neutral rating on the stock in a report on Thursday, January 25th. Finally, Royal Bank of Canada reissued a buy rating and issued a $30.00 price objective on shares of Continental Building Products in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $27.25.

Continental Building Products (NYSE:CBPX) opened at $27.20 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 2.46 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1,031.51, a P/E ratio of 22.06 and a beta of 1.20. Continental Building Products has a 12-month low of $21.00 and a 12-month high of $31.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in Continental Building Products by 0.9% in the second quarter. California State Teachers Retirement System now owns 70,036 shares of the construction company’s stock valued at $1,632,000 after purchasing an additional 654 shares during the period. PNC Financial Services Group Inc. grew its holdings in Continental Building Products by 6.7% in the second quarter. PNC Financial Services Group Inc. now owns 12,800 shares of the construction company’s stock valued at $298,000 after purchasing an additional 800 shares during the period. Principal Financial Group Inc. grew its holdings in Continental Building Products by 11.2% in the second quarter. Principal Financial Group Inc. now owns 10,037 shares of the construction company’s stock valued at $234,000 after purchasing an additional 1,013 shares during the period. California Public Employees Retirement System grew its holdings in Continental Building Products by 4.5% in the second quarter. California Public Employees Retirement System now owns 30,000 shares of the construction company’s stock valued at $699,000 after purchasing an additional 1,300 shares during the period. Finally, BlueCrest Capital Management Ltd grew its holdings in Continental Building Products by 14.8% in the second quarter. BlueCrest Capital Management Ltd now owns 11,483 shares of the construction company’s stock valued at $268,000 after purchasing an additional 1,483 shares during the period. 99.50% of the stock is currently owned by institutional investors.

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About Continental Building Products

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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