Deutsche Bank Increases Continental Building Products (CBPX) Price Target to $29.00
Continental Building Products (NYSE:CBPX) had its price target lifted by Deutsche Bank from $28.00 to $29.00 in a report published on Tuesday. Deutsche Bank currently has a hold rating on the construction company’s stock.
CBPX has been the subject of a number of other reports. Zacks Investment Research upgraded Continental Building Products from a sell rating to a hold rating in a research report on Tuesday, January 9th. SunTrust Banks downgraded Continental Building Products from a buy rating to a hold rating in a research report on Monday, January 8th. Barclays upgraded Continental Building Products from an equal weight rating to an overweight rating and lifted their target price for the stock from $27.00 to $33.00 in a research report on Friday, January 5th. Royal Bank of Canada reiterated a buy rating and set a $30.00 target price on shares of Continental Building Products in a research report on Wednesday, November 15th. Finally, Citigroup decreased their target price on Continental Building Products from $13.00 to $11.50 and set a neutral rating for the company in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Continental Building Products presently has an average rating of Buy and an average target price of $30.29.
Shares of Continental Building Products (NYSE CBPX) opened at $27.05 on Tuesday. The stock has a market capitalization of $1,005.30, a price-to-earnings ratio of 20.04 and a beta of 1.20. Continental Building Products has a 52-week low of $21.00 and a 52-week high of $31.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.32 and a quick ratio of 2.46.
Continental Building Products announced that its board has authorized a stock repurchase program on Thursday, February 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in CBPX. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Continental Building Products by 154.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,983 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,417 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Continental Building Products during the third quarter worth $235,000. Minerva Advisors LLC bought a new stake in shares of Continental Building Products during the fourth quarter worth $239,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Continental Building Products by 76.7% during the third quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 10,600 shares of the construction company’s stock worth $275,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Continental Building Products in the third quarter valued at about $351,000. Institutional investors and hedge funds own 99.78% of the company’s stock.
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About Continental Building Products
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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