Shares of Continental Building (NYSE:CBPX) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.20.
CBPX has been the topic of several research reports. Zacks Investment Research upgraded shares of Continental Building from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Tuesday, February 13th. Citigroup cut their price target on shares of Continental Building from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, January 25th. SunTrust Banks downgraded shares of Continental Building from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Barclays upgraded shares of Continental Building from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $33.00 in a report on Friday, January 5th. Finally, Raymond James initiated coverage on shares of Continental Building in a research note on Tuesday, March 13th. They set a “market perform” rating on the stock.
Several hedge funds and other institutional investors have recently modified their holdings of CBPX. GSA Capital Partners LLP purchased a new position in shares of Continental Building during the 3rd quarter valued at approximately $1,465,000. California Public Employees Retirement System lifted its position in shares of Continental Building by 35.9% during the 3rd quarter. California Public Employees Retirement System now owns 40,782 shares of the construction company’s stock valued at $1,060,000 after buying an additional 10,782 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Continental Building during the 3rd quarter valued at approximately $2,625,000. First Trust Advisors LP lifted its position in shares of Continental Building by 128.3% during the 4th quarter. First Trust Advisors LP now owns 65,536 shares of the construction company’s stock valued at $1,845,000 after buying an additional 36,829 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Continental Building by 104.3% during the 4th quarter. Wells Fargo & Company MN now owns 98,124 shares of the construction company’s stock valued at $2,762,000 after buying an additional 50,097 shares in the last quarter.
Continental Building (NYSE:CBPX) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. Continental Building had a net margin of 12.23% and a return on equity of 16.58%. The firm had revenue of $131.39 million for the quarter, compared to the consensus estimate of $125.40 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. research analysts anticipate that Continental Building will post 1.77 EPS for the current fiscal year.
Continental Building announced that its Board of Directors has approved a share repurchase program on Thursday, February 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
About Continental Building
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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