Continental Building Products (NYSE:CBPX) had its target price cut by stock analysts at Citigroup from $13.00 to $11.50 in a research report issued to clients and investors on Thursday. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s target price points to a potential downside of 61.73% from the company’s previous close.
A number of other brokerages have also issued reports on CBPX. SunTrust Banks lowered Continental Building Products from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Zacks Investment Research raised Continental Building Products from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Barclays raised Continental Building Products from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $27.00 to $33.00 in a research report on Friday, January 5th. Jefferies Group assumed coverage on Continental Building Products in a research report on Tuesday, December 12th. They issued a “hold” rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $30.00 target price on shares of Continental Building Products in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $26.42.
Shares of Continental Building Products (CBPX) traded up $0.35 during midday trading on Thursday, reaching $30.05. The company’s stock had a trading volume of 217,415 shares, compared to its average volume of 187,864. The stock has a market capitalization of $1,120.14, a price-to-earnings ratio of 24.43 and a beta of 1.28. The company has a current ratio of 3.11, a quick ratio of 2.46 and a debt-to-equity ratio of 0.88. Continental Building Products has a 52 week low of $21.00 and a 52 week high of $31.00.
Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Continental Building Products during the third quarter worth $1,465,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Continental Building Products during the third quarter worth $2,625,000. State Street Corp increased its position in shares of Continental Building Products by 6.1% during the second quarter. State Street Corp now owns 762,246 shares of the construction company’s stock worth $17,765,000 after acquiring an additional 43,516 shares during the period. Trexquant Investment LP purchased a new stake in shares of Continental Building Products during the third quarter worth $351,000. Finally, Nationwide Fund Advisors increased its position in shares of Continental Building Products by 6.9% during the third quarter. Nationwide Fund Advisors now owns 75,132 shares of the construction company’s stock worth $1,953,000 after acquiring an additional 4,819 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.
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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