Caesarstone (CSTE) Stock Rating Upgraded by BidaskClub

Caesarstone (NASDAQ:CSTE) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Caesarstone from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Chardan Capital raised shares of Caesarstone from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Monday, January 8th. Credit Suisse Group cut shares of Caesarstone from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $28.00 to $21.00 in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. cut shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Caesarstone currently has an average rating of “Hold” and a consensus target price of $31.80.

Shares of Caesarstone (NASDAQ CSTE) remained flat at $$21.45 during trading hours on Thursday. The stock had a trading volume of 636,845 shares, compared to its average volume of 358,276. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.20 and a current ratio of 2.97. Caesarstone has a fifty-two week low of $19.55 and a fifty-two week high of $44.00. The stock has a market capitalization of $736.57, a P/E ratio of 29.38 and a beta of 1.88.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.08). Caesarstone had a return on equity of 8.50% and a net margin of 4.52%. The business had revenue of $148.14 million for the quarter, compared to the consensus estimate of $144.97 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. research analysts expect that Caesarstone will post 1.36 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CSTE. SG Americas Securities LLC raised its holdings in shares of Caesarstone by 53.9% in the 3rd quarter. SG Americas Securities LLC now owns 7,042 shares of the construction company’s stock valued at $210,000 after purchasing an additional 2,465 shares during the period. Janney Capital Management LLC bought a new stake in shares of Caesarstone in the 3rd quarter valued at about $213,000. Principal Financial Group Inc. bought a new position in Caesarstone in the 2nd quarter valued at about $225,000. Stevens Capital Management LP bought a new position in Caesarstone in the 3rd quarter valued at about $226,000. Finally, Koch Industries Inc. bought a new position in Caesarstone in the 2nd quarter valued at about $234,000. 45.84% of the stock is currently owned by institutional investors.

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About Caesarstone

Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

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