Continental Building Products (NYSE:CBPX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $31.00 target price on the construction company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.67% from the stock’s current price.
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. “
A number of other analysts have also recently commented on CBPX. BidaskClub upgraded shares of Continental Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. Barclays upped their price target on shares of Continental Building Products from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. Royal Bank of Canada restated a “buy” rating and set a $30.00 price target on shares of Continental Building Products in a research note on Wednesday, November 15th. Jefferies Group started coverage on shares of Continental Building Products in a research note on Tuesday, December 12th. They set a “hold” rating and a $28.00 price target on the stock. Finally, SunTrust Banks lowered shares of Continental Building Products from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.25.
Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in Continental Building Products during the 3rd quarter worth approximately $235,000. Principal Financial Group Inc. increased its holdings in Continental Building Products by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 10,037 shares of the construction company’s stock worth $234,000 after acquiring an additional 1,013 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in Continental Building Products by 76.7% during the 3rd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 10,600 shares of the construction company’s stock worth $275,000 after acquiring an additional 4,600 shares during the period. BlueCrest Capital Management Ltd increased its holdings in Continental Building Products by 14.8% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 11,483 shares of the construction company’s stock worth $268,000 after acquiring an additional 1,483 shares during the period. Finally, Minerva Advisors LLC bought a new stake in Continental Building Products during the 4th quarter worth approximately $239,000. 99.50% of the stock is currently owned by institutional investors and hedge funds.
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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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