Continental Building Products, Inc. (NYSE:CBPX) was the recipient of a significant growth in short interest during the month of July. As of July 14th, there was short interest totalling 1,510,008 shares, a growth of 82.0% from the June 30th total of 829,770 shares. Based on an average daily trading volume, of 409,787 shares, the short-interest ratio is currently 3.7 days. Approximately 3.9% of the company’s stock are short sold.
Shares of Continental Building Products (NYSE CBPX) opened at 21.90 on Friday. Continental Building Products has a 52-week low of $18.35 and a 52-week high of $26.52. The company has a market capitalization of $841.40 million, a PE ratio of 20.15 and a beta of 1.28. The stock 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 posted its earnings results on Thursday, August 3rd. The construction company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $120.60 million for the quarter, compared to analyst estimates of $127.60 million. Continental Building Products had a return on equity of 15.45% and a net margin of 9.16%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, analysts predict that Continental Building Products will post $1.30 earnings per share for the current fiscal year.
A number of research firms recently commented on CBPX. Zacks Investment Research upgraded Continental Building Products from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Royal Bank Of Canada restated a “buy” rating on shares of Continental Building Products in a report on Friday, May 5th. Finally, BidaskClub upgraded Continental Building Products from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.33.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. purchased a new position in shares of Continental Building Products during the second quarter worth approximately $100,000. BNP Paribas Arbitrage SA raised its position in shares of 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 in the last quarter. First Mercantile Trust Co. raised its position in shares of 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 in the last quarter. SG Americas Securities LLC raised its position in shares of 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 in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Continental Building Products by 30.1% in the first quarter. Victory Capital Management Inc. now owns 8,987 shares of the construction company’s stock worth $220,000 after buying an additional 2,079 shares in the last quarter. 98.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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