Shares of Commercial Metals Company (NYSE:CMC) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.14.
A number of research firms recently issued reports on CMC. Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Macquarie began coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price for the company. Jefferies Group decreased their target price on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Bank of America restated a “neutral” rating and set a $21.00 target price (up from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Finally, Citigroup decreased their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th.
Shares of Commercial Metals (NYSE CMC) opened at $19.77 on Monday. The firm has a market cap of $2,305.79, a price-to-earnings ratio of 26.01, a PEG ratio of 0.74 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $24.64.
Several institutional investors have recently modified their holdings of CMC. GSA Capital Partners LLP purchased a new stake in shares of Commercial Metals during the third quarter worth about $295,000. Walthausen & Co. LLC increased its stake in shares of Commercial Metals by 10.8% during the third quarter. Walthausen & Co. LLC now owns 346,160 shares of the basic materials company’s stock worth $6,587,000 after purchasing an additional 33,610 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Commercial Metals by 4.5% during the third quarter. California Public Employees Retirement System now owns 271,123 shares of the basic materials company’s stock worth $5,159,000 after purchasing an additional 11,723 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Commercial Metals by 375.7% during the third quarter. Point72 Asset Management L.P. now owns 460,000 shares of the basic materials company’s stock worth $8,754,000 after purchasing an additional 363,300 shares in the last quarter. Finally, 3G Capital Partners LP purchased a new stake in shares of Commercial Metals during the third quarter worth about $9,515,000. Institutional investors and hedge funds own 88.62% of the company’s stock.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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