Zacks Investment Research Upgrades Continental Building Products (NYSE:CBPX) to “Buy”

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Continental Building Products (NYSE:CBPX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The firm presently has a $41.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.51% from the company’s current price.

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. “

A number of other research firms also recently weighed in on CBPX. Exane BNP Paribas assumed coverage on Continental Building Products in a report on Wednesday, October 9th. They set an “outperform” rating for the company. BNP Paribas assumed coverage on Continental Building Products in a report on Wednesday, October 9th. They set an “outperform” rating for the company. Royal Bank of Canada lifted their target price on Continental Building Products to $37.00 and gave the stock a “sector perform” rating in a report on Wednesday. Barclays downgraded Continental Building Products to a “hold” rating and set a $37.00 target price for the company. in a report on Wednesday. Finally, SunTrust Banks lifted their target price on Continental Building Products to $37.00 and gave the stock a “positive” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.00.

Continental Building Products stock traded up $0.18 during mid-day trading on Friday, hitting $36.44. 1,360,734 shares of the company’s stock traded hands, compared to its average volume of 1,095,153. The firm has a 50 day simple moving average of $29.22 and a two-hundred day simple moving average of $26.06. Continental Building Products has a fifty-two week low of $21.35 and a fifty-two week high of $36.50. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.56 and a quick ratio of 3.65.

Continental Building Products (NYSE:CBPX) last announced its quarterly earnings results on Tuesday, November 12th. The construction company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Continental Building Products had a return on equity of 18.84% and a net margin of 12.12%. The business had revenue of $127.40 million during the quarter, compared to the consensus estimate of $127.16 million. During the same quarter last year, the firm posted $0.51 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Continental Building Products will post 1.66 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in Continental Building Products by 6.5% in the second quarter. Macquarie Group Ltd. now owns 2,679,632 shares of the construction company’s stock valued at $71,198,000 after purchasing an additional 163,909 shares in the last quarter. Systematic Financial Management LP raised its stake in Continental Building Products by 1.7% in the third quarter. Systematic Financial Management LP now owns 1,091,371 shares of the construction company’s stock valued at $29,784,000 after purchasing an additional 17,985 shares in the last quarter. William Blair Investment Management LLC raised its stake in Continental Building Products by 31.5% in the second quarter. William Blair Investment Management LLC now owns 656,423 shares of the construction company’s stock valued at $17,441,000 after purchasing an additional 157,311 shares in the last quarter. Brown Advisory Inc. acquired a new position in Continental Building Products in the second quarter valued at about $14,015,000. Finally, Nuveen Asset Management LLC acquired a new position in Continental Building Products in the second quarter valued at about $11,901,000. 98.66% of the stock is owned by institutional investors.

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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Analyst Recommendations for Continental Building Products (NYSE:CBPX)

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