Cemex SAB de CV (NYSE:CX) was upgraded by analysts at Citigroup to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $10.00 target price on the construction company’s stock. Citigroup’s target price points to a potential upside of 33.69% from the stock’s previous close.
Several other equities analysts have also recently commented on CX. Santander cut shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Cemex SAB de CV from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine lowered shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. J P Morgan Chase & Co dropped their target price on shares of Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Bank of America lowered shares of Cemex SAB de CV from a “buy” rating to a “neutral” rating and lifted their target price for the company from $10.60 to $10.70 in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.87.
Cemex SAB de CV (NYSE CX) traded up $0.09 on Tuesday, hitting $7.48. 12,098,800 shares of the stock traded hands, compared to its average volume of 9,770,353. The stock has a market capitalization of $10,791.38, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.74 and a quick ratio of 0.54. Cemex SAB de CV has a 52-week low of $7.09 and a 52-week high of $10.37.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. AMP Capital Investors Ltd increased 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 worth $7,589,000 after buying an additional 142,286 shares during the period. Envestnet Asset Management Inc. increased its position in Cemex SAB de CV by 6.7% during the 3rd 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 period. Financial Counselors Inc. increased its position in Cemex SAB de CV by 57.0% during the 3rd 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 period. Stifel Financial Corp increased its position in Cemex SAB de CV by 27.6% during the 3rd 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 period. Finally, Dimensional Fund Advisors LP increased its position in Cemex SAB de CV by 3.7% during the 3rd 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 period. 40.36% of the stock is currently owned by institutional investors.
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.
