Caesarstone Ltd. (NASDAQ:CSTE) was downgraded by research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued to investors on Thursday, November 2nd, Marketbeat reports. They presently have a $25.00 price objective on the construction company’s stock.
Several other research analysts also recently commented on CSTE. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $47.00 price objective on shares of Caesarstone in a research report on Thursday, August 3rd. Finally, BidaskClub cut shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.00.
Caesarstone (NASDAQ:CSTE) remained flat at $$25.00 on Thursday. The company had a trading volume of 134,122 shares, compared to its average volume of 215,175. The company has a market capitalization of $858.47, a P/E ratio of 18.49 and a beta of 2.17. Caesarstone has a 1-year low of $23.10 and a 1-year high of $44.00. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02.
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Several hedge funds and other institutional investors have recently modified their holdings of CSTE. Penserra Capital Management LLC lifted its stake 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 worth $116,000 after buying an additional 384 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Caesarstone by 63.5% during the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock valued at $160,000 after purchasing an additional 1,778 shares during the last quarter. Sensato Investors LLC purchased a new position in shares of Caesarstone during the second quarter valued at approximately $207,000. Janney Capital Management LLC purchased a new stake in Caesarstone during the third quarter valued at approximately $213,000. Finally, HighTower Advisors LLC purchased a new stake in Caesarstone during the first quarter valued at approximately $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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