Short Interest in Continental Building Products, Inc. (CBPX) Decreases By 44.1%
Continental Building Products, Inc. (NYSE:CBPX) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 849,062 shares, a drop of 44.1% from the August 31st total of 1,518,530 shares. Based on an average daily volume of 500,811 shares, the days-to-cover ratio is currently 1.7 days. Approximately 2.2% of the company’s shares are short sold.
Several research analysts have recently issued reports on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $30.00 target price on shares of Continental Building Products in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Continental Building Products from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, August 7th. BidaskClub raised shares of Continental Building Products from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 target price on shares of Continental Building Products in a research note on Monday, June 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Continental Building Products has an average rating of “Hold” and an average price target of $27.25.
Hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. bought a new stake in Continental Building Products in the second quarter valued at approximately $100,000. BNP Paribas Arbitrage SA boosted its holdings in Continental Building Products by 128.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,645 shares of the construction company’s stock valued at $132,000 after acquiring an additional 3,179 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Continental Building Products by 1.8% in the second quarter. First Mercantile Trust Co. now owns 6,230 shares of the construction company’s stock valued at $145,000 after acquiring an additional 110 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Continental Building Products by 26.7% in the first quarter. SG Americas Securities LLC now owns 8,340 shares of the construction company’s stock valued at $204,000 after acquiring an additional 1,759 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Continental Building Products by 30.1% in the first quarter. Victory Capital Management Inc. now owns 8,987 shares of the construction company’s stock valued at $220,000 after acquiring an additional 2,079 shares during the last quarter.
Continental Building Products (NYSE CBPX) opened at 26.45 on Friday. Continental Building Products has a 1-year low of $18.35 and a 1-year high of $26.53. The company’s 50-day moving average is $24.45 and its 200 day moving average is $23.83. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 24.33 and a beta of 1.28.
Continental Building Products (NYSE:CBPX) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). Continental Building Products had a net margin of 9.16% and a return on equity of 15.45%. The company had revenue of $120.60 million during the quarter, compared to the consensus estimate of $127.60 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Continental Building Products will post $1.30 EPS for the current fiscal year.
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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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