Commercial Metals (NYSE:CMC – Get Free Report) had its price objective increased by investment analysts at Morgan Stanley from $48.00 to $53.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s target price indicates a potential upside of 9.02% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a report on Friday. UBS Group reissued a “neutral” rating on shares of Commercial Metals in a report on Friday. BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. started coverage on shares of Commercial Metals in a report on Friday, May 30th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.
Get Our Latest Stock Analysis on Commercial Metals
Commercial Metals Stock Performance
Commercial Metals (NYSE:CMC – Get Free Report) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 8.23% and a net margin of 0.94%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company posted $0.88 EPS. Commercial Metals’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.
Insider Buying and Selling at Commercial Metals
In related news, Director John R. Mcpherson bought 2,475 shares of the company’s stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.
Institutional Trading of Commercial Metals
Large investors have recently modified their holdings of the business. National Bank of Canada FI grew its position in shares of Commercial Metals by 80.3% in the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Commercial Metals during the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new stake in Commercial Metals during the fourth quarter worth approximately $34,000. UMB Bank n.a. boosted its position in Commercial Metals by 51.9% during the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 268 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Commercial Metals during the first quarter worth approximately $47,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.
Commercial Metals Company Profile
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.
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