Cornerstone Building Brands (NYSE:CNR) Downgraded by Zacks Investment Research


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Cornerstone Building Brands (NYSE:CNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Cornerstone Building Brands Inc. is the manufacturer of exterior building products primarily in North America. The company manufactures windows, vinyl siding, insulated metal panels, metal roofing and wall systems and metal accessories. Cornerstone Building Brands Inc., formerly known as NCI Building Systems Inc., is headquartered in Cary, North Carolina. “

A number of other brokerages have also recently commented on CNR. BidaskClub raised shares of Cornerstone Building Brands from a “hold” rating to a “buy” rating in a research report on Friday, December 25th. Sidoti raised shares of Cornerstone Building Brands from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, September 16th. Finally, ValuEngine raised shares of Cornerstone Building Brands from a “sell” rating to a “hold” rating in a research report on Friday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Shares of Cornerstone Building Brands stock opened at $11.24 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.49 and a debt-to-equity ratio of 8.49. Cornerstone Building Brands has a twelve month low of $2.54 and a twelve month high of $11.89. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -2.93 and a beta of 2.26. The company’s fifty day moving average is $9.87 and its 200 day moving average is $9.01.

Cornerstone Building Brands (NYSE:CNR) last issued its quarterly earnings data on Tuesday, November 10th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Cornerstone Building Brands had a negative net margin of 10.35% and a negative return on equity of 10.54%. The company had revenue of $1.23 billion for the quarter. As a group, equities analysts anticipate that Cornerstone Building Brands will post -0.38 earnings per share for the current fiscal year.

In other news, insider John L. Buckley sold 13,068 shares of the company’s stock in a transaction dated Tuesday, December 22nd. The shares were sold at an average price of $9.75, for a total transaction of $127,413.00. Following the transaction, the insider now owns 80,304 shares in the company, valued at $782,964. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd R. Moore sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 19th. The shares were sold at an average price of $9.03, for a total transaction of $45,150.00. Following the transaction, the executive vice president now owns 110,578 shares in the company, valued at approximately $998,519.34. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CNR. Great West Life Assurance Co. Can raised its holdings in shares of Cornerstone Building Brands by 39.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,778 shares of the company’s stock worth $112,000 after acquiring an additional 1,354 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Cornerstone Building Brands by 343.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,258 shares of the company’s stock worth $82,000 after acquiring an additional 7,944 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Cornerstone Building Brands by 10.9% in the 2nd quarter. Advisor Group Holdings Inc. now owns 12,351 shares of the company’s stock worth $75,000 after acquiring an additional 1,213 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Cornerstone Building Brands in the 3rd quarter worth about $102,000. Finally, Jane Street Group LLC acquired a new stake in shares of Cornerstone Building Brands in the 2nd quarter worth about $91,000. Hedge funds and other institutional investors own 89.54% of the company’s stock.

About Cornerstone Building Brands

Cornerstone Building Brands, Inc, together with its subsidiaries, designs, engineers, manufactures, and markets external building products for the commercial, residential, and repair and remodel construction markets in North America. The company operates through three segments: Commercial, Siding, and Windows.

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