Reassessing The Changing Outlook For Cornerstone Building Brands Inc. (NYSE: CNR)

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    Coliseum Capital Management LLC recently announced the acquisition of new stake in Cornerstone Building Brands Inc. (NYSE:CNR). The institutional investor has increased its shareholding in the Industrials company by 3.22% to 5.62 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 4.46% valued currently at $30.46 million. In addition, BlackRock Fund Advisors raised its holdings by 25827.0 to 2.93 million shares. And DNB Asset Management AS has lifted its position by 1.88% or 34498.0 shares – to 1.87 million shares.

    With over 0.62 million Cornerstone Building Brands Inc. (CNR) shares trading Thursday and a closing price of $4.82 on the day, the dollar volume was approximately $2.97 million. The shares have shown a negative weekly performance of -12.52% and its price on 07/09/20 lost nearly -7.66%. Currently, there are 126.09M common shares owned by the public and among those 44.50M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: Several analysts who have offered their price forecasts for CNR have a consensus price objective of $6.38. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $4.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Cornerstone Building Brands Inc. stock is 2.70 for the next 12 months. The average price target is 24.45% above its last price level and an upside to the estimated low will see the stock lose -7.11% over that period. But an upside of 39.75% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.

    Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 1,255,232 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 150,838 shares.

    The top 3 mutual fund holders in Cornerstone Building Brands Inc. are Vanguard Total Stock Market Index, DNB Miljoinvest, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.81 million shares of the company’s stock, all valued at over $9.8 million. The company has a total holdings of about 1.43% of the shares outstanding. DNB Miljoinvest sold 13669.0 shares to see its total holdings shrink to 1.16 million shares valued at over $6.29 million and representing 0.92% of the shares outstanding. iShares Russell 2000 ETF bought 9487.0 shares to bring its total holdings to over 0.95 million shares at a value of $5.14 million. iShares Russell 2000 ETF now owns shares totaling to 0.75% of the shares outstanding.

    Shares of Cornerstone Building Brands Inc. (NYSE: CNR) opened at $5.16, down -$0.06 from a prior closing price of $5.22. However, the script later closed the day at $4.82, down -7.66%. The company’s stock has a 5-day price change of -12.52% and 5.93% over the past three months. CNR shares are trading -43.36% year to date (YTD), with the 12-month market performance down to -21.75% lower. It has a 12-month low price of $2.54 and touched a high of $9.79 over the same period. Currently, 0.62 million shares have been traded, compared to an average intraday trading volume of 637.19K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.36%, -11.52%, and -25.56% respectively.

    Institutional ownership of Cornerstone Building Brands Inc. (NYSE: CNR) shares accounts for 90.90% of the company’s 126.09M shares outstanding. Mutual fund holders own 2.50%, while other institutional holders and individual stakeholders account for 9.45% and 18.31% respectively.

    It has a market capitalization of $630.94M and a beta (3y monthly) value of 2.16. The stock’s earnings-per-share (ttm) stands at -$3.95. The company has a Quick Ratio of 1.70 with the debt-to-equity ratio at 10.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.40% over the week and 7.09% over the month.

    Analysts forecast that Cornerstone Building Brands Inc. (CNR) will achieve an EPS of -$0.11 for the current quarter, $0.02 for the next quarter and $0.24 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.26 a year ago. Earnings per share for the fiscal year are expected to increase by 82.70%, and 119.40% over the next financial year. EPS should grow at an annualized rate of 36.30% over the next five years, compared to -20.20% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Cornerstone Building Brands Inc. (CNR) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

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