Shares of Caesarstone Ltd. (NASDAQ:CSTE) have earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $39.25.
Several equities research analysts have commented on CSTE shares. BidaskClub lowered shares of Caesarstone from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Stifel Nicolaus raised shares of Caesarstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $47.00 in a research note on Friday, March 24th. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. TheStreet lowered shares of Caesarstone from a “b-” rating to a “c+” rating in a research note on Wednesday, June 28th. Finally, Chardan Capital downgraded shares of Caesarstone from a “buy” rating to a “neutral” rating and upped their price target for the stock from $39.00 to $43.00 in a research report on Thursday, May 11th.
Shares of Caesarstone (NASDAQ CSTE) opened at 37.30 on Tuesday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.05 and a beta of 2.09. Caesarstone has a one year low of $26.35 and a one year high of $44.00. The company’s 50-day moving average price is $37.02 and its 200-day moving average price is $34.31.
Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Wednesday, May 10th. The construction company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Caesarstone had a net margin of 13.29% and a return on equity of 17.19%. The company had revenue of $136.40 million for the quarter, compared to analyst estimates of $124.97 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Caesarstone will post $2.04 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of CSTE. Penserra Capital Management LLC boosted its position in shares of Caesarstone by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,944 shares of the construction company’s stock valued at $106,000 after buying an additional 256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Caesarstone by 344.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,475 shares of the construction company’s stock worth $126,000 after buying an additional 2,694 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Caesarstone by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,948 shares of the construction company’s stock worth $143,000 after buying an additional 191 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Caesarstone during the first quarter worth $181,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Caesarstone during the first quarter worth $214,000. 58.63% of the stock is owned by institutional investors.
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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