Continental Building Products (CBPX) Hits New 52-Week High and Low at $32.25

Continental Building Products Inc (NYSE:CBPX) reached a new 52-week high and low during trading on Thursday . The stock traded as low as $32.25 and last traded at $32.20, with a volume of 6299 shares changing hands. The stock had previously closed at $31.90.

Several equities research analysts recently commented on the company. ValuEngine raised Continental Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Citigroup dropped their price objective on Continental Building Products from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Deutsche Bank increased their price objective on Continental Building Products from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Zacks Investment Research cut Continental Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Raymond James assumed coverage on Continental Building Products in a research report on Tuesday, March 13th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.43.

The company has a debt-to-equity ratio of 0.83, a current ratio of 3.42 and a quick ratio of 2.78. The stock has a market cap of $1.18 billion, a P/E ratio of 24.21 and a beta of 1.14.

Continental Building Products (NYSE:CBPX) last released its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $116.80 million for the quarter, compared to analysts’ expectations of $118.77 million. Continental Building Products had a net margin of 12.62% and a return on equity of 16.88%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. analysts predict that Continental Building Products Inc will post 1.79 EPS for the current fiscal year.

Continental Building Products declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Continental Building Products news, VP David Bruce Briggs sold 3,350 shares of the firm’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $31.35, for a total value of $105,022.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in Continental Building Products by 8.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,266,215 shares of the construction company’s stock worth $63,794,000 after purchasing an additional 168,226 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Continental Building Products by 6.7% in the first quarter. Westwood Holdings Group Inc. now owns 988,007 shares of the construction company’s stock worth $28,208,000 after purchasing an additional 61,955 shares during the last quarter. Systematic Financial Management LP boosted its position in Continental Building Products by 0.6% in the first quarter. Systematic Financial Management LP now owns 911,911 shares of the construction company’s stock worth $26,035,000 after purchasing an additional 5,849 shares during the last quarter. Prudential Financial Inc. boosted its position in Continental Building Products by 31.8% in the first quarter. Prudential Financial Inc. now owns 744,583 shares of the construction company’s stock worth $21,258,000 after purchasing an additional 179,821 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Continental Building Products by 2.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 508,710 shares of the construction company’s stock worth $14,320,000 after purchasing an additional 13,339 shares during the last quarter. 95.93% of the stock is currently owned by institutional investors and hedge funds.

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.

Receive News & Ratings for Continental Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Building Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply