Commercial Metals Co. (CMC) PT Set at $15.00 by Credit Suisse Group AG
Commercial Metals Co. (NYSE:CMC) has been assigned a $15.00 target price by investment analysts at Credit Suisse Group AG in a research report issued on Saturday. The firm presently has a a “hold” rating on the stock. Credit Suisse Group AG’s target price indicates a potential downside of 5.06% from the stock’s previous close.
Several other research firms also recently commented on CMC. Clarkson Capital downgraded Commercial Metals from a “neutral” rating to a “sell” rating in a research report on Monday, June 27th. Citigroup Inc. initiated coverage on Commercial Metals in a research report on Monday, August 22nd. They issued a “neutral” rating and a $16.00 target price on the stock. Bank of America Corp. downgraded Commercial Metals to a “neutral” rating in a research report on Wednesday, July 20th. Zacks Investment Research raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $16.50 target price on shares of Commercial Metals in a research report on Friday, September 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.69.
Commercial Metals (NYSE:CMC) traded down 1.19% during midday trading on Friday, hitting $15.80. The stock had a trading volume of 1,163,605 shares. The company has a 50-day moving average of $15.73 and a 200-day moving average of $16.70. Commercial Metals has a 1-year low of $12.44 and a 1-year high of $18.50. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 14.35 and a beta of 1.48.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/commercial-metals-co-cmc-pt-set-at-15-00-by-credit-suisse-group-ag.html
A number of large investors have recently added to or reduced their stakes in CMC. TFS Capital LLC boosted its stake in Commercial Metals by 46.6% in the fourth quarter. TFS Capital LLC now owns 447,869 shares of the company’s stock valued at $6,131,000 after buying an additional 142,415 shares during the last quarter. Gargoyle Investment Advisor L.L.C. acquired a new stake in Commercial Metals during the fourth quarter valued at $520,000. Crow Point Partners acquired a new stake in Commercial Metals during the third quarter valued at $221,000. Capital Fund Management S.A. acquired a new stake in Commercial Metals during the fourth quarter valued at $293,000. Finally, American Century Companies Inc. acquired a new stake in Commercial Metals during the fourth quarter valued at $5,761,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Commercial Metals Company Profile
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
Receive News & Ratings for Commercial Metals Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals Co. and related companies with MarketBeat.com's FREE daily email newsletter.