Zacks Investment Research Downgrades Continental Building Products (CBPX) to Sell

Continental Building Products (NYSE:CBPX) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Wednesday.

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 have also recently weighed in on CBPX. ValuEngine cut shares of Continental Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James reduced their price target on shares of Continental Building Products from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Stephens set a $31.00 price target on shares of Continental Building Products and gave the company a “hold” rating in a research report on Thursday, October 25th. Citigroup reduced their price target on shares of Continental Building Products from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, November 12th. Finally, Barclays set a $35.00 price target on shares of Continental Building Products and gave the company a “buy” rating in a research report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

NYSE CBPX opened at $26.02 on Wednesday. The stock has a market capitalization of $968.57 million, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. Continental Building Products has a twelve month low of $24.13 and a twelve month high of $39.60. The company has a current ratio of 4.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.75.

Continental Building Products (NYSE:CBPX) last posted its earnings results on Thursday, November 8th. The construction company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The business had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $124.65 million. Continental Building Products had a net margin of 15.10% and a return on equity of 21.14%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. As a group, research analysts anticipate that Continental Building Products will post 2.07 earnings per share for the current fiscal year.

In other news, Director Edward M. Bosowski purchased 1,500 shares of Continental Building Products stock in a transaction on Friday, November 16th. The shares were purchased at an average cost of $29.28 per share, for a total transaction of $43,920.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in CBPX. Clearbridge Investments LLC lifted its position in shares of Continental Building Products by 951,920.0% during the third quarter. Clearbridge Investments LLC now owns 476,010 shares of the construction company’s stock worth $17,874,000 after purchasing an additional 475,960 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Continental Building Products during the third quarter worth approximately $15,789,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Continental Building Products by 1,178.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 455,111 shares of the construction company’s stock worth $17,091,000 after purchasing an additional 419,505 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Continental Building Products by 552.9% during the third quarter. Teachers Advisors LLC now owns 480,271 shares of the construction company’s stock worth $18,034,000 after purchasing an additional 406,710 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Continental Building Products by 74.5% during the third quarter. Renaissance Technologies LLC now owns 845,072 shares of the construction company’s stock worth $31,732,000 after purchasing an additional 360,672 shares in the last quarter. Institutional investors own 98.57% of the company’s stock.

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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