Continental Building Products, Inc. (CBPX) Upgraded by Zacks Investment Research to Buy
Continental Building Products, Inc. (NYSE:CBPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $26.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 18.18% from the stock’s previous close.
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 research firms have also weighed in on CBPX. Royal Bank Of Canada reiterated a “buy” rating on shares of Continental Building Products in a research note on Friday, May 5th. BidaskClub upgraded Continental Building Products from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Continental Building Products has an average rating of “Hold” and a consensus target price of $25.25.
Continental Building Products (NYSE:CBPX) traded down 5.38% on Monday, reaching $22.00. The company had a trading volume of 749,278 shares. The stock has a market cap of $862.84 million, a price-to-earnings ratio of 20.20 and a beta of 1.28. The company has a 50-day moving average of $22.84 and a 200 day moving average of $23.94. Continental Building Products has a one year low of $18.35 and a one year high of $26.52.
Continental Building Products (NYSE:CBPX) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.32 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $120.60 million during the quarter, compared to the consensus estimate of $127.60 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Continental Building Products will post $1.35 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Continental Building Products during the first quarter worth approximately $13,876,000. Renaissance Technologies LLC raised its stake in Continental Building Products by 308.1% in the first quarter. Renaissance Technologies LLC now owns 496,700 shares of the construction company’s stock worth $12,169,000 after buying an additional 375,000 shares during the period. Prudential Financial Inc. raised its stake in Continental Building Products by 27.1% in the second quarter. Prudential Financial Inc. now owns 1,281,552 shares of the construction company’s stock worth $29,860,000 after buying an additional 273,192 shares during the period. Macquarie Group Ltd. raised its stake in Continental Building Products by 15.6% in the first quarter. Macquarie Group Ltd. now owns 1,461,002 shares of the construction company’s stock worth $35,795,000 after buying an additional 196,797 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Continental Building Products by 58.0% in the first quarter. JPMorgan Chase & Co. now owns 488,094 shares of the construction company’s stock worth $11,958,000 after buying an additional 179,112 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.
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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