Brokerages Set Continental Building Products Inc (CBPX) PT at $33.50

Continental Building Products Inc (NYSE:CBPX) has earned an average rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $33.50.

CBPX has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Continental Building Products from $31.00 to $33.00 and gave the company a “$32.10” rating in a research note on Monday, July 23rd. ValuEngine raised shares of Continental Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Continental Building Products from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, August 8th. Barclays lifted their price objective on shares of Continental Building Products from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Raymond James decreased their price objective on shares of Continental Building Products from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th.

In related news, SVP Dennis Romps sold 10,000 shares of Continental Building Products stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $36.20, for a total value of $362,000.00. Following the transaction, the senior vice president now directly owns 31,265 shares of the company’s stock, valued at $1,131,793. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of CBPX. Robeco Institutional Asset Management B.V. boosted its position in Continental Building Products by 1,178.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 455,111 shares of the construction company’s stock valued at $17,091,000 after buying an additional 419,505 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Continental Building Products in the third quarter valued at approximately $12,466,000. American Century Companies Inc. acquired a new stake in Continental Building Products in the third quarter valued at approximately $7,685,000. KAMES CAPITAL plc acquired a new stake in Continental Building Products in the second quarter valued at approximately $4,596,000. Finally, Renaissance Technologies LLC boosted its position in Continental Building Products by 41.8% in the second quarter. Renaissance Technologies LLC now owns 484,400 shares of the construction company’s stock valued at $15,283,000 after buying an additional 142,700 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Shares of CBPX traded down $0.15 during mid-day trading on Thursday, hitting $28.97. 284,280 shares of the company’s stock were exchanged, compared to its average volume of 525,830. Continental Building Products has a 52 week low of $25.00 and a 52 week high of $39.60. The stock has a market capitalization of $1.07 billion, a PE ratio of 17.56, a P/E/G ratio of 0.48 and a beta of 1.50. The company has a current ratio of 3.86, a quick ratio of 3.21 and a debt-to-equity ratio of 0.79.

Continental Building Products (NYSE:CBPX) last announced its earnings results on Thursday, August 2nd. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.15. Continental Building Products had a net margin of 14.04% and a return on equity of 19.57%. The company had revenue of $139.27 million for the quarter, compared to analysts’ expectations of $130.37 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts predict that Continental Building Products will post 2.02 earnings per share for the current fiscal year.

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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