HeidelbergCement (OTCMKTS:HDELY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “HeidelbergCement AG operates as a building materials manufacturer. It engages in the production and distribution of cement and aggregates. The Company also offers ready-mixed concrete, concrete products, and concrete elements, as well as other related products and services. It has operations in sub-Saharan Africa: Benin, DR Congo, Gabon, Ghana, Liberia, Sierra Leone, Tanzania, and Togo. HeidelbergCement AG is headquartered in Heidelberg, Germany. “
Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut HeidelbergCement from a “neutral” rating to an “underweight” rating in a research report on Wednesday, October 18th. Jefferies Group initiated coverage on HeidelbergCement in a research report on Wednesday, September 27th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. HeidelbergCement presently has an average rating of “Hold” and an average target price of $24.00.
HeidelbergCement AG produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. Its cement products include special cements with targeted characteristics, special geotechnical building materials, and a range of binders. The company offers natural stone and crushed aggregates, including sand, gravel, stone chippings, and crushed stones; concrete/ready-mixed concrete that is used for the production of precast concrete parts, such as stairs, ceiling elements, or structural components, as well as for use in the construction of tunnels or bridges, office buildings, and schools; and asphalt, which is primarily used in the building of traffic infrastructure comprising roads, walkways, and parking lots.
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