Continental Building Products Inc (NYSE:CBPX) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,110,100 shares, a decrease of 13.6% from the July 31st total of 1,284,600 shares. Based on an average trading volume of 221,300 shares, the days-to-cover ratio is presently 5.0 days. Approximately 3.2% of the shares of the stock are sold short.
NYSE:CBPX traded down $0.34 during midday trading on Friday, hitting $26.79. 200,012 shares of the company traded hands, compared to its average volume of 228,692. The firm’s fifty day moving average is $24.27 and its 200-day moving average is $25.18. Continental Building Products has a 12-month low of $21.35 and a 12-month high of $38.95. The firm has a market capitalization of $898.42 million, a P/E ratio of 13.26, a P/E/G ratio of 3.12 and a beta of 1.32. The company has a current ratio of 4.43, a quick ratio of 3.65 and a debt-to-equity ratio of 0.78.
Continental Building Products (NYSE:CBPX) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). Continental Building Products had a net margin of 13.02% and a return on equity of 20.38%. The company had revenue of $124.21 million for the quarter, compared to analysts’ expectations of $131.04 million. During the same quarter in the previous year, the company posted $0.59 EPS. The business’s quarterly revenue was down 10.8% on a year-over-year basis. On average, research analysts expect that Continental Building Products will post 1.66 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CBPX. Russell Investments Group Ltd. bought a new position in shares of Continental Building Products during the 2nd quarter worth $49,000. Aperio Group LLC acquired a new stake in Continental Building Products in the second quarter worth about $76,000. State Board of Administration of Florida Retirement System acquired a new stake in Continental Building Products in the second quarter worth about $206,000. Mid Atlantic Financial Management Inc. ADV acquired a new stake in Continental Building Products in the second quarter worth about $207,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Continental Building Products by 458.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,821 shares of the construction company’s stock worth $219,000 after acquiring an additional 7,241 shares in the last quarter. Institutional investors and hedge funds own 98.57% of the company’s stock.
Separately, ValuEngine upgraded Continental Building Products from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Continental Building Products currently has an average rating of “Hold” and an average price target of $31.33.
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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