China National Mat (CASDY) Upgraded to Strong-Buy by Zacks Investment Research
China National Mat (NASDAQ:CASDY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $9.00 price objective on the stock.
According to Zacks, “China National Building Material Company Limited (CNBM) is an investment holding company principally engaged in the production and sale of cement. The Company operates its business through six segments. The Cement segment is engaged in the production and sale of cement. The Concrete segment is engaged in the production and sale of concrete. The Lightweight Building Materials segment is engaged in the production and sale of lightweight building materials. The Glass Fiber and Composite Materials segment is engaged in the production and sale of glass fiber and composite materials. The Engineering Services segment is engaged in the provision of engineering services to glass and cement manufacturers and equipment procurement. The others segment is engaged in merchandise trading business and others. “
China National Mat (CASDY) traded up 29.18% during midday trading on Thursday, hitting $10.05. 3,860 shares of the company traded hands. The stock has a 50 day moving average of $6.65 and a 200 day moving average of $6.18. China National Mat has a 12-month low of $4.50 and a 12-month high of $10.10. The stock has a market cap of $1.79 billion and a P/E ratio of 15.70.
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