Why Cornerstone Building Brands Stock Is Up Today
Shares of Cornerstone Building Brands (NYSE: CNR) jumped more than 10% on Thursday morning on a Wall Street analyst upgrade. Demand for housing is strong right now, and Cornerstone is benefiting.
On Tuesday evening, Cornerstone delivered better-than-expected first-quarter results, earning $0.03 per share on revenue of $1.27 billion when a $0.06-per-share loss on $1.2 billion was expected. Net sales and adjusted earnings both hit record highs thanks to strong residential end-market demand for the company's windows, siding, and other exterior building products.
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Source Fool.com