Continental Building Products (NYSE:CBPX) Cut to “Hold” at Barclays
Barclays cut shares of Continental Building Products (NYSE:CBPX) to a hold rating in a report published on Wednesday morning, TipRanks reports. They currently have $37.00 price objective on the construction company’s stock.
CBPX has been the subject of several other reports. SunTrust Banks lifted their price target on shares of Continental Building Products to $37.00 and gave the company a positive rating in a report on Wednesday. Zacks Investment Research raised shares of Continental Building Products from a sell rating to a hold rating in a report on Friday, October 11th. ValuEngine raised shares of Continental Building Products from a hold rating to a buy rating in a research note on Friday, November 8th. Exane BNP Paribas started coverage on shares of Continental Building Products in a research note on Wednesday, October 9th. They set an outperform rating for the company. Finally, Royal Bank of Canada boosted their target price on shares of Continental Building Products to $37.00 and gave the company a sector perform rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $36.00.
Shares of NYSE CBPX traded up $0.18 during midday trading on Wednesday, hitting $36.44. The company’s stock had a trading volume of 1,360,734 shares, compared to its average volume of 935,424. Continental Building Products has a 1-year low of $21.35 and a 1-year high of $36.50. The firm’s fifty day moving average price is $29.22 and its 200-day moving average price is $26.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.65 and a current ratio of 4.56. The firm has a market cap of $1.25 billion, a P/E ratio of 18.04, a P/E/G ratio of 4.31 and a beta of 1.32.
A number of institutional investors have recently bought and sold shares of CBPX. Brown Advisory Inc. acquired a new position in Continental Building Products during the 2nd quarter valued at about $14,015,000. Nuveen Asset Management LLC acquired a new stake in shares of Continental Building Products in the 2nd quarter worth approximately $11,901,000. Penn Capital Management Co. Inc. acquired a new stake in shares of Continental Building Products in the 2nd quarter worth approximately $5,077,000. Macquarie Group Ltd. lifted its stake in shares of Continental Building Products by 6.5% in the 2nd quarter. Macquarie Group Ltd. now owns 2,679,632 shares of the construction company’s stock worth $71,198,000 after acquiring an additional 163,909 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Continental Building Products by 31.5% in the 2nd quarter. William Blair Investment Management LLC now owns 656,423 shares of the construction company’s stock worth $17,441,000 after acquiring an additional 157,311 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.
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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