Continental Building Products (CBPX) Reaches New 12-Month High and Low at $32.10

Shares of Continental Building Products Inc (NYSE:CBPX) reached a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $32.10 and last traded at $32.05, with a volume of 2654 shares traded. The stock had previously closed at $31.80.

Several equities analysts recently weighed in on CBPX shares. Citigroup cut their price objective on shares of 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. ValuEngine lowered shares of Continental Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, May 24th. Deutsche Bank raised their price objective on shares of 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 lowered shares of Continental Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Raymond James started coverage on shares of Continental Building Products in a research report on Tuesday, March 13th. They set a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Continental Building Products currently has an average rating of “Hold” and a consensus price target of $30.43.

The stock has a market cap of $1.18 billion, a P/E ratio of 24.06 and a beta of 1.14. The company has a current ratio of 3.42, a quick ratio of 2.78 and a debt-to-equity ratio of 0.83.

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

Continental Building Products declared that its board has approved a share buyback plan on Thursday, February 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, VP David Bruce Briggs sold 3,350 shares of Continental Building Products stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $31.35, for a total value of $105,022.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Continental Building Products by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 16,453 shares of the construction company’s stock worth $469,000 after acquiring an additional 1,753 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Continental Building Products by 154.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,983 shares of the construction company’s stock worth $112,000 after acquiring an additional 2,417 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Continental Building Products by 48.3% in the first quarter. Cubist Systematic Strategies LLC now owns 9,333 shares of the construction company’s stock worth $266,000 after acquiring an additional 3,041 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Continental Building Products by 77.2% in the first quarter. SG Americas Securities LLC now owns 7,361 shares of the construction company’s stock worth $210,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Continental Building Products by 314.3% in the first quarter. Russell Investments Group Ltd. now owns 4,499 shares of the construction company’s stock worth $128,000 after acquiring an additional 3,413 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

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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