Brokerages predict that Continental Building Products Inc (NYSE:CBPX) will announce $138.07 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Continental Building Products’ earnings, with the highest sales estimate coming in at $143.00 million and the lowest estimate coming in at $128.80 million. Continental Building Products reported sales of $131.39 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Continental Building Products will report full year sales of $525.31 million for the current fiscal year, with estimates ranging from $516.10 million to $530.00 million. For the next fiscal year, analysts expect that the company will post sales of $548.94 million, with estimates ranging from $535.30 million to $571.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Continental Building Products.
Several research firms recently weighed in on CBPX. Raymond James reduced their price objective on shares of Continental Building Products from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Barclays set a $35.00 price target on Continental Building Products and gave the company a “buy” rating in a research report on Wednesday, December 12th. Zacks Investment Research upgraded Continental Building Products from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday, January 8th. Stephens set a $31.00 target price on Continental Building Products and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, Citigroup reduced their price objective on Continental Building Products from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, November 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $32.50.
In related news, Director Edward M. Bosowski acquired 1,500 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were purchased at an average cost of $29.28 per share, for a total transaction of $43,920.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CBPX. Vanguard Group Inc. grew its stake in Continental Building Products by 2.9% in the third quarter. Vanguard Group Inc. now owns 4,829,264 shares of the construction company’s stock worth $181,339,000 after purchasing an additional 135,931 shares during the period. Vanguard Group Inc grew its stake in Continental Building Products by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 4,829,264 shares of the construction company’s stock worth $181,339,000 after buying an additional 135,931 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Continental Building Products by 7.4% in the 4th quarter. BlackRock Inc. now owns 2,684,833 shares of the construction company’s stock valued at $68,329,000 after buying an additional 184,492 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Continental Building Products by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,520,732 shares of the construction company’s stock valued at $38,703,000 after acquiring an additional 9,259 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Continental Building Products by 15.6% in the fourth quarter. Prudential Financial Inc. now owns 975,734 shares of the construction company’s stock worth $24,833,000 after acquiring an additional 131,979 shares during the period. 97.77% of the stock is owned by institutional investors.
CBPX stock opened at $27.04 on Thursday. The company has a quick ratio of 3.32, a current ratio of 4.01 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $975.57 million, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.31 and a beta of 1.35. Continental Building Products has a 12 month low of $24.11 and a 12 month high of $39.60.
Continental Building Products Company Profile
Continental Building Products, Inc manufactures and sells gypsum wallboard and complementary finishing products in the eastern United States and eastern Canada. The company sells its products to gypsum wallboard distributors, buying groups, wholesalers, and mass merchants in the new residential, repair and remodel, and commercial construction markets under the LiftLite, Mold Defense, and Weather Defense brand names.
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