Cornerstone Building Brands (NYSE:CNR) Rating Increased to Buy at TD Securities

Cornerstone Building Brands (NYSE:CNR) was upgraded by stock analysts at TD Securities to a “buy” rating in a report released on Monday, Stock Target Advisor reports.

Several other analysts also recently issued reports on CNR. Zacks Investment Research raised shares of Cornerstone Building Brands from a “sell” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Monday, August 9th. UBS Group raised shares of Cornerstone Building Brands from a “neutral” rating to a “buy” rating in a research report on Friday, May 28th. Royal Bank of Canada raised shares of Cornerstone Building Brands to an “outperform” rating in a research report on Friday. Finally, Barclays boosted their price objective on Cornerstone Building Brands from $15.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 9th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.67.

CNR stock opened at $14.81 on Monday. The company has a debt-to-equity ratio of 6.64, a current ratio of 2.18 and a quick ratio of 1.51. The company’s 50-day moving average is $16.30 and its 200-day moving average is $15.86. The stock has a market capitalization of $1.87 billion, a PE ratio of 47.77 and a beta of 2.10. Cornerstone Building Brands has a 1 year low of $7.04 and a 1 year high of $19.73.

Cornerstone Building Brands (NYSE:CNR) last posted its quarterly earnings results on Monday, August 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.35. Cornerstone Building Brands had a return on equity of 30.06% and a net margin of 0.77%. The business had revenue of $1.40 billion for the quarter. On average, analysts anticipate that Cornerstone Building Brands will post 2.15 earnings per share for the current fiscal year.

In other Cornerstone Building Brands news, CEO James S. Metcalf bought 50,000 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was purchased at an average cost of $15.75 per share, with a total value of $787,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George L. Ball purchased 25,000 shares of Cornerstone Building Brands stock in a transaction that occurred on Thursday, August 5th. The shares were bought at an average price of $14.65 per share, with a total value of $366,250.00. Following the transaction, the director now owns 399,209 shares of the company’s stock, valued at approximately $5,848,411.85. The disclosure for this purchase can be found here. 1.48% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in shares of Cornerstone Building Brands by 8.2% during the 1st quarter. UBS Group AG now owns 78,761 shares of the company’s stock valued at $1,105,000 after buying an additional 5,980 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cornerstone Building Brands by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 290,387 shares of the company’s stock valued at $4,074,000 after acquiring an additional 7,477 shares during the period. ClariVest Asset Management LLC bought a new stake in Cornerstone Building Brands in the 2nd quarter valued at about $5,833,000. Dimensional Fund Advisors LP lifted its holdings in Cornerstone Building Brands by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,409,183 shares of the company’s stock valued at $13,079,000 after purchasing an additional 71,286 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Cornerstone Building Brands by 205.2% during the first quarter. Millennium Management LLC now owns 1,215,852 shares of the company’s stock worth $17,058,000 after purchasing an additional 817,490 shares during the period. 94.79% of the stock is owned by institutional investors and hedge funds.

About Cornerstone Building Brands

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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