Zacks Investment Research Downgrades Cornerstone Building Brands (NYSE:CNR) to Hold

Zacks Investment Research downgraded shares of Cornerstone Building Brands (NYSE:CNR) from a buy rating to a hold rating in a report published on Tuesday morning, 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. “

Several other research analysts have also recently commented on the company. Royal Bank of Canada upgraded Cornerstone Building Brands to an outperform rating in a research note on Friday, September 17th. TD Securities upgraded Cornerstone Building Brands to a buy rating in a research note on Monday, September 20th. Finally, Atlantic Securities initiated coverage on Cornerstone Building Brands in a research note on Tuesday, November 16th. They set a neutral rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $19.67.

NYSE:CNR opened at $16.34 on Tuesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.79 and a current ratio of 2.54. Cornerstone Building Brands has a one year low of $10.68 and a one year high of $19.73. The business’s 50-day simple moving average is $16.52 and its 200 day simple moving average is $16.25. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 3.34 and a beta of 2.01.

Cornerstone Building Brands (NYSE:CNR) last released its quarterly earnings results on Monday, November 8th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.16). Cornerstone Building Brands had a return on equity of 23.35% and a net margin of 11.72%. The business had revenue of $1.44 billion during the quarter. During the same quarter last year, the business posted $0.31 EPS. On average, equities research analysts predict that Cornerstone Building Brands will post 1.96 EPS for the current year.

In other news, insider John L. Buckley sold 47,140 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $17.29, for a total transaction of $815,050.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John L. Buckley sold 98,920 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $17.32, for a total value of $1,713,294.40. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CNR. PNC Financial Services Group Inc. acquired a new stake in shares of Cornerstone Building Brands during the 2nd quarter valued at $63,000. Ameritas Investment Partners Inc. increased its stake in shares of Cornerstone Building Brands by 22.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,293 shares of the company’s stock worth $78,000 after acquiring an additional 783 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Cornerstone Building Brands in the second quarter worth $237,000. Rock Creek Group LP increased its stake in shares of Cornerstone Building Brands by 113.1% in the second quarter. Rock Creek Group LP now owns 220,000 shares of the company’s stock worth $4,000,000 after acquiring an additional 116,759 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Cornerstone Building Brands by 68.9% in the second quarter. Deutsche Bank AG now owns 49,167 shares of the company’s stock worth $895,000 after acquiring an additional 20,059 shares during the last quarter. 91.96% of the stock is owned by hedge funds and other institutional investors.

Cornerstone Building Brands Company Profile

Cornerstone Building Brands, Inc engages in the design, engineer and manufacture external building products. It operates through the following segments: Commercial, Siding, and Windows. The Commercial segment produces and distributes metal products for the nonresidential construction market. The Siding segment comprises of vinyl siding and skirting, steel siding, vinyl and aluminum soffit, aluminum trim coil, aluminum gutter coil, aluminum gutters, aluminum and steel roofing accessories, wide crown molding, window and door trim, fascia, undersill trims, outside and inside corner posts, rain removal systems, and injection molded designer accents.

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