Continental Building Products (NYSE:CBPX) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Continental Building Products (NYSE:CBPX) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The firm currently has $41.00 price target on the construction company’s stock.

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 analysts also recently weighed in on the stock. SunTrust Banks increased their price target on shares of Continental Building Products to $37.00 and gave the stock a positive rating in a research report on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of Continental Building Products to $37.00 and gave the stock a sector perform rating in a research report on Wednesday, November 13th. Exane BNP Paribas assumed coverage on shares of Continental Building Products in a research report on Wednesday, October 9th. They issued an outperform rating on the stock. BNP Paribas assumed coverage on shares of Continental Building Products in a research report on Wednesday, October 9th. They issued an outperform rating on the stock. Finally, Barclays downgraded shares of Continental Building Products to a hold rating and set a $37.00 price target on the stock. in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $36.00.

Continental Building Products stock traded down $0.07 during midday trading on Tuesday, reaching $36.51. 116,000 shares of the company traded hands, compared to its average volume of 258,392. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 3.99 and a beta of 1.36. The business has a 50 day moving average of $36.54 and a two-hundred day moving average of $29.65. Continental Building Products has a 12 month low of $21.35 and a 12 month high of $37.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.56 and a quick ratio of 3.80.

Continental Building Products (NYSE:CBPX) last released its quarterly earnings results on Tuesday, November 12th. The construction company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Continental Building Products will post 1.69 EPS for the current year.

In other news, CFO Dennis Charles Schemm sold 10,009 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $36.38, for a total value of $364,127.42. Following the completion of the sale, the chief financial officer now directly owns 35,908 shares of the company’s stock, valued at $1,306,333.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Dennis Romps sold 8,949 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $36.59, for a total transaction 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. Over the last three months, insiders sold 39,207 shares of company stock valued at $1,433,557. Corporate insiders own 0.78% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in Continental Building Products during the second quarter valued at $49,000. Tower Research Capital LLC TRC purchased a new position 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% during the third quarter. First Mercantile Trust Co. now owns 4,583 shares of the construction company’s stock valued at $125,000 after acquiring an additional 343 shares in the last quarter. Man Group plc purchased a new position in Continental Building Products during the second quarter valued at $240,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Continental Building Products during the third quarter valued at $249,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

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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