Cemex SAB de CV (NYSE:CX) was downgraded by equities research analysts at Santander from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.
A number of other analysts also recently commented on the company. Bank of America downgraded Cemex SAB de CV from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $10.60 to $10.70 in a research report on Tuesday, August 29th. ValuEngine downgraded Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Zacks Investment Research upgraded Cemex SAB de CV from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. J P Morgan Chase & Co reduced their price objective on Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Finally, Citigroup upgraded Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $10.76.
Cemex SAB de CV (NYSE CX) opened at $7.48 on Tuesday. Cemex SAB de CV has a twelve month low of $7.09 and a twelve month high of $10.37. The firm has a market capitalization of $10,791.38, a price-to-earnings ratio of 11.56, a P/E/G ratio of 1.13 and a beta of 1.31. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 0.88.
A number of large investors have recently made changes to their positions in CX. AMP Capital Investors Ltd grew its stake in shares of Cemex SAB de CV by 20.5% in the third quarter. AMP Capital Investors Ltd now owns 835,865 shares of the construction company’s stock valued at $7,589,000 after buying an additional 142,286 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Cemex SAB de CV by 6.7% in the third quarter. Envestnet Asset Management Inc. now owns 244,729 shares of the construction company’s stock valued at $2,221,000 after purchasing an additional 15,313 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Cemex SAB de CV by 57.0% in the third quarter. Financial Counselors Inc. now owns 42,260 shares of the construction company’s stock valued at $384,000 after purchasing an additional 15,350 shares during the last quarter. Stifel Financial Corp boosted its holdings in Cemex SAB de CV by 27.6% in the third quarter. Stifel Financial Corp now owns 175,261 shares of the construction company’s stock valued at $1,603,000 after purchasing an additional 37,864 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Cemex SAB de CV by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 29,454,875 shares of the construction company’s stock valued at $267,426,000 after purchasing an additional 1,063,387 shares during the last quarter. Institutional investors own 40.36% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Cemex SAB de CV (CX) Rating Lowered to Hold at Santander” was first reported by American Banking and Market News and is the property of of American Banking and Market News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/12/19/cemex-sab-de-cv-cx-rating-lowered-to-hold-at-santander.html.
About Cemex SAB de CV
CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.
