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Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report, Analyst Ratings Net reports. The company traded as high as $55.08 and last traded at $54.54, with a volume of 754,851 shares traded. The stock had previously closed at $46.24.

The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.08. The company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $87.58 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis.

A number of research firms have recently commented on CSTE. Analysts at Zacks downgraded shares of Caesarstone Sdot-Yam Ltd from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 7th. They now have a $53.60 price target on the stock. Analysts at Credit Suisse initiated coverage on shares of Caesarstone Sdot-Yam Ltd in a research note on Monday, December 9th. They set an “outperform” rating and a $53.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.02.

The stock’s 50-day moving average is $47.58 and its 200-day moving average is $44.43. The company has a market cap of $1.804 billion and a P/E ratio of 28.35.

Caesarstone Sdot-Yam Ltd. (NASDAQ:CSTE) through its subsidiaries is engaged in the manufacturing of engineered quartz surfaces sold under its premium Caesarstone brand.

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