Caesarstone (NASDAQ:CSTE) Stock Rating Lowered by Wall Street Zen

Caesarstone (NASDAQ:CSTE) was downgraded by stock analysts at Wall Street Zen to a “strong sell” rating in a research report issued to clients and investors on Friday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Caesarstone Price Performance

CSTE opened at $2.50 on Friday. The firm has a market cap of $86.38 million, a P/E ratio of -1.23 and a beta of -0.09. Caesarstone has a 1-year low of $0.86 and a 1-year high of $4.67. The company has a 50 day simple moving average of $1.71 and a two-hundred day simple moving average of $1.57.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The firm had revenue of $102.11 million for the quarter, compared to the consensus estimate of $97.60 million. Caesarstone had a negative net margin of 18.44% and a negative return on equity of 19.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Caesarstone in the second quarter worth about $212,000. Simplex Trading LLC bought a new stake in Caesarstone in the 2nd quarter worth approximately $26,000. Quadrature Capital Ltd bought a new stake in Caesarstone in the 2nd quarter worth approximately $36,000. Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone during the 2nd quarter worth approximately $56,000. Finally, Jane Street Group LLC bought a new position in shares of Caesarstone during the 2nd quarter valued at approximately $263,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.