Continental Building Products’ Lock-Up Period Set To End on August 4th (NASDAQ:CBPX)
Continental Building Products’ (NASDAQ:CBPX) lock-up period is set to end on Monday, August 4th. Continental Building Products had issued 11,765,000 shares in its initial public offering on February 5th, American Banking & Market News reports. The total size of the offering was $164,710,000 based on an initial share price of $14.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
A number of research firms have recently commented on CBPX. Analysts at RBC Capital downgraded shares of Continental Building Products from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 14th. They now have a $17.00 price target on the stock, down previously from $19.00. Separately, 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. Finally, 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Continental Building Products presently has an average rating of “Buy” and an average price target of $20.60.
Continental Building Products (NASDAQ:CBPX) traded up 3.71% on Friday, hitting $13.68. The stock had a trading volume of 260,243 shares. Continental Building Products has a 1-year low of $12.58 and a 1-year high of $20.51. The stock’s 50-day moving average is $14.4 and its 200-day moving average is $16.64. The company’s market cap is $602.9 million.
Continental Building Products (NASDAQ:CBPX) last released its earnings data on Monday, May 12th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters 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 quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Continental Building Products will post $0.61 EPS for the current fiscal year.
Continental Building Products Inc is a manufacturer of gypsum wallboard and complementary finishing products.
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