Caesarstone (NASDAQ:CSTE) Stock Passes Above 200-Day Moving Average of $4.19

Caesarstone Ltd. (NASDAQ:CSTE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.19 and traded as high as $6.81. Caesarstone shares last traded at $6.73, with a volume of 173,178 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Caesarstone from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.

Caesarstone Price Performance

The company has a market capitalization of $232.39 million, a P/E ratio of -2.15 and a beta of 0.40. The company’s 50-day moving average price is $4.48 and its two-hundred day moving average price is $4.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.51.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $128.53 million during the quarter, compared to the consensus estimate of $124.94 million. Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, sell-side analysts expect that Caesarstone Ltd. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Caesarstone

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its stake in shares of Caesarstone by 41.8% in the third quarter. Barclays PLC now owns 22,591 shares of the construction company’s stock valued at $98,000 after acquiring an additional 6,660 shares in the last quarter. Citigroup Inc. grew its stake in Caesarstone by 21,632.8% during the third quarter. Citigroup Inc. now owns 53,680 shares of the construction company’s stock worth $230,000 after buying an additional 53,433 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in Caesarstone during the third quarter worth about $45,000. Yelin Lapidot Holdings Management Ltd. bought a new position in Caesarstone in the 3rd quarter valued at approximately $2,711,000. Finally, Marquette Asset Management LLC bought a new position in Caesarstone in the 4th quarter valued at approximately $113,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.