Caesarstone Ltd. (NASDAQ:CSTE)‘s stock had its “neutral” rating reiterated by investment analysts at Chardan Capital in a report issued on Tuesday, November 7th, MarketBeat Ratings reports. They presently have a $32.00 price objective on the construction company’s stock, down from their previous price objective of $43.00. Chardan Capital’s price target suggests a potential upside of 27.24% from the stock’s current price.
Several other brokerages also recently commented on CSTE. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub downgraded shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Stifel Nicolaus reissued a “buy” rating and set a $47.00 price objective on shares of Caesarstone in a research report on Thursday, August 3rd. Finally, J P Morgan Chase & Co cut shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.00.
Shares of Caesarstone (CSTE) traded up $0.10 during trading hours on Tuesday, reaching $25.15. 315,700 shares of the company’s stock traded hands, compared to its average volume of 215,738. Caesarstone has a 1 year low of $23.10 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.31 and a quick ratio of 2.20. The company has a market capitalization of $863.62, a P/E ratio of 18.49 and a beta of 2.17.
A number of hedge funds have recently made changes to their positions in CSTE. Penserra Capital Management LLC raised its position in shares of Caesarstone by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,328 shares of the construction company’s stock valued at $116,000 after purchasing an additional 384 shares during the period. SG Americas Securities LLC increased its position in Caesarstone by 63.5% during the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock worth $160,000 after acquiring an additional 1,778 shares during the period. Sensato Investors LLC bought a new position in Caesarstone during the second quarter worth about $207,000. Janney Capital Management LLC bought a new position in Caesarstone during the third quarter worth about $213,000. Finally, HighTower Advisors LLC bought a new position in Caesarstone during the first quarter worth about $214,000. Hedge funds and other institutional investors own 50.72% of the company’s stock.
Caesarstone Company Profile
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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