Continental Building Products Downgraded by RBC Capital to Sector Perform (CBPX)
Continental Building Products (NASDAQ:CBPX) was downgraded by research analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a report released on Monday, TheFlyOnTheWall.com reports. They currently have a $17.00 price objective on the stock, down from their previous price objective of $19.00. RBC Capital’s price objective would indicate a potential upside of 18.80% from the stock’s previous close.
Continental Building Products (NASDAQ:CBPX) traded down 4.15% during mid-day trading on Monday, hitting $14.31. The stock had a trading volume of 289,576 shares. Continental Building Products has a 1-year low of $14.00 and a 1-year high of $20.51. The stock’s 50-day moving average is $15.51 and its 200-day moving average is $17.04. The company’s market cap is $630.6 million.
Continental Building Products (NASDAQ:CBPX) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.16. The company had revenue of $87.00 million for the quarter, compared to the consensus estimate of $86.48 million. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Continental Building Products will post $0.64 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays cut their price target on shares of Continental Building Products from $22.00 to $21.00 in a research note on Wednesday, July 2nd. They now have an “overweight” rating on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Continental Building Products in a research note on Wednesday, May 14th. They now have a $22.00 price target on the stock, down previously from $25.00. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.60.
Continental Building Products Inc is a manufacturer of gypsum wallboard and complementary finishing products.
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