OxFORD Asset Management LLP increased its position in Caesarstone Ltd. (NASDAQ:CSTE) by 232.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,105 shares of the construction company’s stock after acquiring an additional 36,449 shares during the period. OxFORD Asset Management LLP owned about 0.15% of Caesarstone worth $1,826,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Sphera Funds Management LTD. grew its position in shares of Caesarstone by 36.5% during the 2nd quarter. Sphera Funds Management LTD. now owns 122,797 shares of the construction company’s stock valued at $4,304,000 after acquiring an additional 32,823 shares during the period. Renaissance Group LLC bought a new stake in shares of Caesarstone during the 2nd quarter valued at $432,000. Ameriprise Financial Inc. bought a new stake in shares of Caesarstone during the 1st quarter valued at $387,000. Menta Capital LLC purchased a new position in shares of Caesarstone during the 2nd quarter valued at $988,000. Finally, HighTower Advisors LLC purchased a new position in shares of Caesarstone during the 1st quarter valued at $214,000. 52.87% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut shares of Caesarstone from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 price target on shares of Caesarstone in a research note on Thursday, August 3rd. TheStreet cut shares of Caesarstone from a “b-” rating to a “c+” rating in a research report on Wednesday, June 28th. Finally, Credit Suisse Group began coverage on shares of Caesarstone in a research report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Caesarstone presently has a consensus rating of “Hold” and a consensus target price of $38.20.
Shares of Caesarstone Ltd. (NASDAQ CSTE) opened at 29.05 on Wednesday. The company’s 50-day moving average is $29.23 and its 200-day moving average is $34.07. Caesarstone Ltd. has a 52-week low of $26.35 and a 52-week high of $44.00. The stock has a market cap of $997.49 million, a PE ratio of 16.60 and a beta of 2.07.
Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.14). Caesarstone had a return on equity of 14.21% and a net margin of 11.21%. The company had revenue of $148.90 million for the quarter, compared to analysts’ expectations of $148.35 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that Caesarstone Ltd. will post $1.94 EPS for the current year.
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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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