Caesarstone Ltd. (CSTE) Stock Rating Reaffirmed by Chardan Capital

Caesarstone Ltd. (NASDAQ:CSTE)‘s stock had its “neutral” rating reaffirmed by research analysts at Chardan Capital in a note issued to investors on Tuesday, November 7th, MarketBeat.com 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 target price would suggest a potential upside of 29.55% from the stock’s current price.

A number of other research analysts have also issued reports on CSTE. Stifel Nicolaus reiterated a “buy” rating and set a $47.00 target price on shares of Caesarstone in a research report on Thursday, August 3rd. BidaskClub lowered Caesarstone from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. J P Morgan Chase & Co lowered Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Caesarstone from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of Caesarstone (NASDAQ CSTE) opened at $24.70 on Tuesday. The company has a market cap of $848.17, a P/E ratio of 18.16 and a beta of 2.17. Caesarstone has a one year low of $23.10 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.20 and a current ratio of 3.31.

Several large investors have recently modified their holdings of CSTE. Bank of New York Mellon Corp increased its position in shares of Caesarstone by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 64,418 shares of the construction company’s stock worth $2,335,000 after purchasing an additional 1,150 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Caesarstone in the 1st quarter valued at about $387,000. Parametric Portfolio Associates LLC grew its position in Caesarstone by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 43,751 shares of the construction company’s stock valued at $1,586,000 after acquiring an additional 4,454 shares in the last quarter. American International Group Inc. grew its position in Caesarstone by 7.1% in the 1st quarter. American International Group Inc. now owns 14,676 shares of the construction company’s stock valued at $532,000 after acquiring an additional 971 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Caesarstone by 62.9% in the 1st quarter. Wellington Management Group LLP now owns 31,206 shares of the construction company’s stock valued at $1,131,000 after acquiring an additional 12,049 shares in the last quarter. 50.72% of the stock is owned by hedge funds and other institutional investors.

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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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