Commercial Metals (NYSE:CMC) Price Target Cut to $83.00 by Analysts at JPMorgan Chase & Co.

Commercial Metals (NYSE:CMC) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $85.00 to $83.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 41.93% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, January 21st. Wells Fargo & Company lowered their price objective on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group set a $85.00 target price on shares of Commercial Metals and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Morgan Stanley raised their target price on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $58.48 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70. Commercial Metals has a one year low of $37.92 and a one year high of $84.87. The business’s 50 day simple moving average is $72.92 and its two-hundred day simple moving average is $66.51. The stock has a market capitalization of $6.49 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.34 and a beta of 1.47.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Insider Buying and Selling at Commercial Metals

In related news, Director Dennis V. Arriola acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the acquisition, the director owned 9,238 shares of the company’s stock, valued at $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the completion of the sale, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Commercial Metals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Commercial Metals by 1.5% during the fourth quarter. State Street Corp now owns 6,361,477 shares of the basic materials company’s stock valued at $440,341,000 after buying an additional 91,104 shares during the last quarter. Boston Partners grew its stake in shares of Commercial Metals by 1.9% in the third quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock worth $208,629,000 after acquiring an additional 67,139 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Commercial Metals by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 2,926,864 shares of the basic materials company’s stock valued at $202,626,000 after acquiring an additional 86,749 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Commercial Metals by 6.6% during the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after acquiring an additional 112,267 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Commercial Metals by 4.8% in the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock worth $95,144,000 after purchasing an additional 76,365 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Key Commercial Metals News

Here are the key news stories impacting Commercial Metals this week:

• Positive Sentiment: Strong Q2 operational results — revenue rose ~21% to ~$2.13B, consolidated core EBITDA roughly doubled year-over-year and core EBITDA margin improved materially; management cited solid momentum in the Construction Solutions (precast) business and growing backlog. PR: Q2 Results
• Positive Sentiment: Capital returns stepped up — board raised the quarterly dividend to $0.20 (≈11% increase) and the company continues buybacks, a signal of management confidence and support for EPS/TP metrics. Dividend Boost
• Positive Sentiment: Analysts still show support — Bank of America and other outlets have framed the quarter as a constructive step (Buy/Overweight stances remain among several firms), underpinning upside if execution continues. Analyst Note
• Neutral Sentiment: New coverage — KeyCorp initiated coverage recently (coverage can increase liquidity/attention but its impact depends on the stance and timing of follow-up research). KeyCorp Coverage
• Negative Sentiment: Earnings-per-share miss — adjusted EPS was $1.16 vs. consensus ~$1.28, which drove some investor disappointment despite the revenue beat and margin gains. Conference call/transcript highlighted the mixed reception. Earnings Transcript/Notes
• Negative Sentiment: Price-target adjustment — Wells Fargo trimmed its target from $80 to $77 but left an Overweight rating; target cuts can weigh on sentiment even when the rating remains constructive. Wells Fargo Note

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.