Royal Bank Of Canada Increases Cemex (NYSE:CX) Price Target to $13.50

Cemex (NYSE:CX) had its target price upped by stock analysts at Royal Bank Of Canada from $12.75 to $13.50 in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 11.80% from the company’s previous close.

Several other research firms have also recently commented on CX. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Scotiabank raised their price target on Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Barclays lifted their price objective on Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Santander upgraded shares of Cemex to an “outperform” rating in a research report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cemex has an average rating of “Moderate Buy” and an average target price of $13.07.

Cemex Price Performance

Shares of CX stock opened at $12.07 on Friday. Cemex has a 1 year low of $8.15 and a 1 year high of $13.67. The company has a current ratio of 0.87, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $12.57 and its 200-day moving average is $12.23. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 35.52 and a beta of 1.52.

Cemex (NYSE:CX) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Cemex had a net margin of 2.83% and a return on equity of 3.76%. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.46 billion. Sell-side analysts forecast that Cemex will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the sale, the insider owned 846,010 shares in the company, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

Institutional investors and hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd boosted its stake in Cemex by 3.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 36,132,733 shares of the construction company’s stock worth $415,165,000 after acquiring an additional 1,225,219 shares during the last quarter. Schroder Investment Management Group raised its holdings in Cemex by 406.2% in the fourth quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock worth $302,749,000 after purchasing an additional 21,143,554 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Cemex by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,191,754 shares of the construction company’s stock worth $243,494,000 after purchasing an additional 2,182,666 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Cemex by 10.9% during the fourth quarter. Wellington Management Group LLP now owns 18,737,871 shares of the construction company’s stock worth $215,298,000 after purchasing an additional 1,840,515 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Cemex by 18.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,328,806 shares of the construction company’s stock valued at $141,658,000 after buying an additional 1,962,140 shares during the period. 82.97% of the stock is owned by institutional investors.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.