Continental Building Products Inc (NYSE:CBPX) reached a new 52-week high and low on Tuesday . The company traded as low as $32.10 and last traded at $32.05, with a volume of 2654 shares. The stock had previously closed at $31.80.
A number of equities research analysts have weighed in on CBPX shares. Deutsche Bank lifted their price target on shares of Continental Building Products from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Citigroup decreased their price target on shares of Continental Building Products from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Raymond James started coverage on shares of Continental Building Products in a research note on Tuesday, March 13th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded shares of Continental Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, ValuEngine upgraded shares of Continental Building Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.43.
The company has a current ratio of 3.42, a quick ratio of 2.78 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.18 billion, a P/E ratio of 24.06 and a beta of 1.14.
Continental Building Products (NYSE:CBPX) last issued its earnings results on Thursday, May 3rd. The construction company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). Continental Building Products had a net margin of 12.62% and a return on equity of 16.88%. The firm had revenue of $116.80 million during the quarter, compared to analyst estimates of $118.77 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. equities research analysts forecast that Continental Building Products Inc will post 1.79 earnings per share for the current year.
Continental Building Products announced that its Board of Directors has approved a stock buyback plan on Thursday, February 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, VP David Bruce Briggs sold 3,350 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $31.35, for a total value of $105,022.50. The sale was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new position in shares of Continental Building Products in the first quarter valued at about $525,000. Xact Kapitalforvaltning AB bought a new position in shares of Continental Building Products in the first quarter valued at about $268,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Continental Building Products in the first quarter valued at about $328,000. STA Wealth Management LLC bought a new position in shares of Continental Building Products in the first quarter valued at about $477,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Continental Building Products by 48.3% in the first quarter. Cubist Systematic Strategies LLC now owns 9,333 shares of the construction company’s stock valued at $266,000 after buying an additional 3,041 shares during the last quarter. 95.93% of the stock is owned by institutional investors and hedge funds.
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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