Continental Building Products (NYSE:CBPX) Rating Increased to Buy at Zacks Investment Research

Continental Building Products (NYSE:CBPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $41.00 target price on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.93% from the company’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. “

Several other research firms have also recently issued reports on CBPX. SunTrust Banks upped their price target on Continental Building Products to $37.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on Continental Building Products to $37.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 13th. BNP Paribas initiated coverage on Continental Building Products in a report on Wednesday, October 9th. They issued an “outperform” rating on the stock. Barclays lowered Continental Building Products to a “hold” rating and set a $37.00 target price on the stock. in a research report on Wednesday, November 13th. Finally, ValuEngine raised Continental Building Products from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $36.00.

Shares of NYSE:CBPX traded down $0.06 during trading hours on Tuesday, hitting $36.63. 254,400 shares of the company’s stock traded hands, compared to its average volume of 378,099. Continental Building Products has a 52 week low of $21.35 and a 52 week high of $37.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.80 and a current ratio of 4.56. The company’s fifty day simple moving average is $33.75 and its two-hundred day simple moving average is $27.37. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 4.35 and a beta of 1.36.

Continental Building Products (NYSE:CBPX) last released its earnings results on Tuesday, November 12th. The construction company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Continental Building Products had a net margin of 12.12% and a return on equity of 18.84%. The business had revenue of $127.40 million for the quarter, compared to the consensus estimate of $127.16 million. During the same period in the previous year, the firm earned $0.51 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts anticipate that Continental Building Products will post 1.68 EPS for the current fiscal year.

In related news, CFO Dennis Charles Schemm sold 10,240 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $36.91, for a total transaction of $377,958.40. Following the transaction, the chief financial officer now directly owns 45,917 shares of the company’s stock, valued at $1,694,796.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dennis Romps sold 8,949 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $36.59, for a total value of $327,443.91. Following the completion of the sale, the senior vice president now directly owns 31,661 shares of the company’s stock, valued at $1,158,475.99. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in shares of Continental Building Products during the 2nd quarter valued at $49,000. Aperio Group LLC acquired a new stake in Continental Building Products during the second quarter valued at $76,000. Tower Research Capital LLC TRC acquired a new stake in Continental Building Products during the third quarter valued at $123,000. First Mercantile Trust Co. grew its stake in Continental Building Products by 8.1% in the third quarter. First Mercantile Trust Co. now owns 4,583 shares of the construction company’s stock valued at $125,000 after purchasing an additional 343 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in Continental Building Products in the second quarter valued at about $206,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

About Continental Building Products

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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