RBC Capital Believes Continental Building Products (NYSE: CBPX) Won’t Stop Here

By Austin Angelo

In a report released yesterday, Robert Wetenhall from RBC Capital reiterated a Buy rating on Continental Building Products (NYSE: CBPX), with a price target of $30. The company’s shares closed yesterday at $26.85, close to its 52-week high of $27.95.

According to TipRanks.com, Wetenhall is a top 25 analyst with an average return of 18.3% and a 82.4% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Installed Building Products, Advanced Drainage Systems, and Masonite International.

Currently, the analyst consensus on Continental Building Products is Moderate Buy and the average price target is $29, representing an 8.0% upside.

In a report issued on November 6, SunTrust Robinson also reiterated a Buy rating on the stock with a $30 price target.

Based on Continental Building Products’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $117 million and quarterly net profit of $10.99 million. In comparison, last year the company earned revenue of $115 million and had a net profit of $6.21 million.

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Continental Building Products, Inc. engages in manufacturing and supplies of gypsum wallboard and complementary finishing products. It provides wallboard and joint compound materials for the building and construction of residential houses and commercial buildings. The company operates through the following segments: Wallboard and Other.