Zacks Investment Research Downgrades Continental Building Products, Inc. (CBPX) to Hold

Continental Building Products, Inc. (NYSE:CBPX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, August 8th.

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. “

CBPX has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $28.00 price target on shares of Continental Building Products in a research report on Monday, June 19th. BidaskClub raised Continental Building Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.33.

Continental Building Products (NYSE CBPX) traded up 0.92% on Tuesday, hitting $21.90. The stock had a trading volume of 276,308 shares. Continental Building Products has a 52-week low of $18.35 and a 52-week high of $26.53. The firm has a market cap of $841.40 million, a PE ratio of 20.15 and a beta of 1.28. The company has a 50-day moving average price of $22.14 and a 200 day moving average price of $23.82.

Continental Building Products (NYSE:CBPX) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.03. Continental Building Products had a return on equity of 15.45% and a net margin of 9.16%. The firm had revenue of $120.60 million for the quarter, compared to analyst estimates of $127.60 million. During the same period in the prior year, the firm posted $0.31 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Continental Building Products will post $1.30 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new position in Continental Building Products during the second quarter worth $100,000. BNP Paribas Arbitrage SA raised its position in Continental Building Products by 128.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,645 shares of the construction company’s stock worth $132,000 after buying an additional 3,179 shares during the last quarter. First Mercantile Trust Co. raised its position in Continental Building Products by 1.8% in the second quarter. First Mercantile Trust Co. now owns 6,230 shares of the construction company’s stock worth $145,000 after buying an additional 110 shares during the last quarter. SG Americas Securities LLC raised its position in Continental Building Products by 26.7% in the first quarter. SG Americas Securities LLC now owns 8,340 shares of the construction company’s stock worth $204,000 after buying an additional 1,759 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Continental Building Products by 9.5% in the second quarter. Legal & General Group Plc now owns 9,279 shares of the construction company’s stock worth $216,000 after buying an additional 802 shares during the last quarter. Institutional investors and hedge funds own 98.42% of the company’s stock.

Continental Building Products Company Profile

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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