Continental Building Products (NYSE:CBPX) Shares Up 11.6% Following Better-Than-Expected Earnings

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Continental Building Products Inc (NYSE:CBPX) shares shot up 11.6% on Tuesday following a better than expected earnings announcement. The stock traded as high as $36.03 and last traded at $35.75, 1,320,925 shares traded hands during mid-day trading. An increase of 359% from the average session volume of 287,620 shares. The stock had previously closed at $32.02.

The construction company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $127.16 million. Continental Building Products had a net margin of 13.02% and a return on equity of 20.38%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Several brokerages have recently issued reports on CBPX. ValuEngine raised shares of Continental Building Products from a “hold” rating to a “buy” rating in a report on Friday, November 8th. SunTrust Banks boosted their price target on shares of Continental Building Products to $37.00 and gave the company a “positive” rating in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of Continental Building Products to $37.00 and gave the company a “sector perform” rating in a report on Wednesday. BNP Paribas began coverage on shares of Continental Building Products in a report on Wednesday, October 9th. They issued an “outperform” rating for the company. Finally, Exane BNP Paribas began coverage on shares of Continental Building Products in a report on Wednesday, October 9th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.60.

Several large investors have recently made changes to their positions in CBPX. Russell Investments Group Ltd. acquired a new stake in Continental Building Products in the second quarter valued at approximately $49,000. Aperio Group LLC acquired a new stake in Continental Building Products in the second quarter valued at approximately $76,000. Tower Research Capital LLC TRC acquired a new stake in Continental Building Products in the third quarter valued at approximately $123,000. First Mercantile Trust Co. boosted its position in Continental Building Products by 8.1% in the third quarter. First Mercantile Trust Co. now owns 4,583 shares of the construction company’s stock valued at $125,000 after buying an additional 343 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Continental Building Products in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

The company has a debt-to-equity ratio of 0.78, a current ratio of 4.43 and a quick ratio of 3.65. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 3.68 and a beta of 1.32. The business’s 50-day simple moving average is $28.86 and its two-hundred day simple moving average is $25.95.

Continental Building Products Company Profile (NYSE:CBPX)

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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