Continental Building Products (CBPX) Downgraded by Royal Bank of Canada to Sector Perform

Continental Building Products (NYSE:CBPX) was downgraded by stock analysts at Royal Bank of Canada to a “sector perform” rating in a note issued to investors on Wednesday, The Fly reports.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Continental Building Products from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, January 8th. ValuEngine raised shares of Continental Building Products from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Stephens reaffirmed a “hold” rating and set a $28.00 price target on shares of Continental Building Products in a research report on Sunday, January 27th. Raymond James lowered shares of Continental Building Products from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 23rd. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Continental Building Products in a research report on Monday, February 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Continental Building Products has an average rating of “Hold” and an average price target of $32.50.

NYSE CBPX opened at $25.67 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.57 and a current ratio of 3.09. Continental Building Products has a 1 year low of $23.09 and a 1 year high of $39.60. The firm has a market cap of $892.29 million, a price-to-earnings ratio of 12.71, a PEG ratio of 2.38 and a beta of 1.35.

Continental Building Products (NYSE:CBPX) last posted its quarterly earnings results on Thursday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. Continental Building Products had a net margin of 14.06% and a return on equity of 22.50%. The firm had revenue of $140.76 million for the quarter, compared to analyst estimates of $138.07 million. Equities research analysts anticipate that Continental Building Products will post 2.12 EPS for the current year.

In other Continental Building Products news, CFO Dennis Charles Schemm sold 1,569 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $25.43, for a total value of $39,899.67. Following the transaction, the chief financial officer now directly owns 56,157 shares in the company, valued at $1,428,072.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in CBPX. NumerixS Investment Technologies Inc increased its holdings in shares of Continental Building Products by 20.7% in the fourth quarter. NumerixS Investment Technologies Inc now owns 4,466 shares of the construction company’s stock valued at $113,000 after purchasing an additional 766 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Continental Building Products in the fourth quarter valued at $119,000. Legal & General Group Plc increased its holdings in shares of Continental Building Products by 16.6% in the fourth quarter. Legal & General Group Plc now owns 6,703 shares of the construction company’s stock valued at $171,000 after purchasing an additional 953 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Continental Building Products by 153.3% in the fourth quarter. Bank of Montreal Can now owns 7,968 shares of the construction company’s stock valued at $203,000 after purchasing an additional 4,822 shares during the last quarter. Finally, Cipher Capital LP acquired a new position in shares of Continental Building Products in the fourth quarter valued at $209,000.

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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