Caesarstone (CSTE) Stock Rating Upgraded by BidaskClub

Caesarstone (NASDAQ:CSTE) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the company. ValuEngine cut Caesarstone from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded Caesarstone from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Credit Suisse Group set a $20.00 target price on Caesarstone and gave the stock a “hold” rating in a research report on Wednesday, May 9th. Finally, Stifel Nicolaus cut Caesarstone from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Caesarstone currently has a consensus rating of “Hold” and an average target price of $24.50.

Caesarstone stock opened at $18.45 on Friday. Caesarstone has a 52 week low of $12.50 and a 52 week high of $30.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.82. The stock has a market cap of $635.45 million, a P/E ratio of 24.67 and a beta of 1.55.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, August 8th. The construction company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.18. Caesarstone had a return on equity of 5.64% and a net margin of 2.28%. The business had revenue of $149.24 million during the quarter, compared to analysts’ expectations of $152.22 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. equities research analysts predict that Caesarstone will post 0.81 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in Caesarstone during the first quarter worth about $107,000. First Mercantile Trust Co. lifted its stake in Caesarstone by 93.1% during the first quarter. First Mercantile Trust Co. now owns 8,951 shares of the construction company’s stock worth $176,000 after purchasing an additional 4,316 shares during the last quarter. FMR LLC bought a new stake in Caesarstone during the second quarter worth about $151,000. Guggenheim Capital LLC bought a new stake in Caesarstone during the fourth quarter worth about $239,000. Finally, Sphera Funds Management LTD. bought a new stake in Caesarstone during the first quarter worth about $240,000. Institutional investors and hedge funds own 52.31% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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