Caesarstone (CSTE) Upgraded at Chardan Capital

Caesarstone (NASDAQ:CSTE) was upgraded by equities researchers at Chardan Capital from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, January 8th, MarketBeat reports. The firm currently has a $32.00 price target on the construction company’s stock. Chardan Capital’s price objective suggests a potential upside of 30.61% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Shares of Caesarstone (CSTE) remained flat at $$24.50 during trading on Monday. 263,200 shares of the stock traded hands, compared to its average volume of 273,800. The firm has a market capitalization of $841.30, a price-to-earnings ratio of 17.63 and a beta of 2.10. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02. Caesarstone has a 1 year low of $21.15 and a 1 year high of $44.00.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.34). Caesarstone had a return on equity of 10.46% and a net margin of 8.33%. sell-side analysts predict that Caesarstone will post 1.24 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in CSTE. Rhumbline Advisers grew its holdings in shares of Caesarstone by 1.1% during the second quarter. Rhumbline Advisers now owns 25,918 shares of the construction company’s stock worth $908,000 after buying an additional 279 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Caesarstone by 5.5% in the second quarter. Alliancebernstein L.P. now owns 30,700 shares of the construction company’s stock valued at $1,076,000 after buying an additional 1,600 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Caesarstone by 2.3% in the second quarter. California Public Employees Retirement System now owns 72,700 shares of the construction company’s stock valued at $2,548,000 after buying an additional 1,600 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Caesarstone by 19.1% in the second quarter. Voya Investment Management LLC now owns 10,838 shares of the construction company’s stock valued at $380,000 after buying an additional 1,737 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Caesarstone by 63.5% in the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock valued at $160,000 after buying an additional 1,778 shares during the last quarter. Institutional investors own 49.64% of the company’s stock.

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About Caesarstone

Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

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