UBS Group Downgrades Cemex SAB de CV (CX) to Sell

Cemex SAB de CV (NYSE:CX) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “sell” rating in a note issued to investors on Thursday. They presently have a $6.50 price target on the construction company’s stock, down from their previous price target of $7.62. UBS Group’s price target would suggest a potential downside of 12.99% from the company’s previous close.

Several other research analysts have also recently issued reports on CX. Citigroup raised Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Monday, October 23rd. JPMorgan Chase & Co. decreased their price target on Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating for the company in a research note on Monday, October 30th. Zacks Investment Research raised Cemex SAB de CV from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine cut Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Santander cut Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.37.

Cemex SAB de CV (NYSE:CX) opened at $7.47 on Thursday. Cemex SAB de CV has a 52 week low of $7.09 and a 52 week high of $10.37. The stock has a market capitalization of $10,910.00, a price-to-earnings ratio of 17.37, a PEG ratio of 0.94 and a beta of 1.32. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.84.

Hedge funds have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP boosted its stake in Cemex SAB de CV by 131.0% during the fourth quarter. River & Mercantile Asset Management LLP now owns 1,115,942 shares of the construction company’s stock valued at $8,364,000 after buying an additional 632,810 shares in the last quarter. Rockefeller Financial Services Inc. boosted its stake in Cemex SAB de CV by 3.7% during the fourth quarter. Rockefeller Financial Services Inc. now owns 6,158,548 shares of the construction company’s stock valued at $46,190,000 after buying an additional 219,719 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cemex SAB de CV by 1,044.4% during the third quarter. Bank of New York Mellon Corp now owns 294,328 shares of the construction company’s stock valued at $2,673,000 after buying an additional 268,609 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cemex SAB de CV by 119.4% during the second quarter. Vanguard Group Inc. now owns 3,409,125 shares of the construction company’s stock valued at $32,114,000 after buying an additional 1,855,422 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its stake in Cemex SAB de CV by 20.5% during the third quarter. AMP Capital Investors Ltd now owns 835,865 shares of the construction company’s stock valued at $7,589,000 after buying an additional 142,286 shares in the last quarter. 39.68% of the stock is owned by institutional investors and hedge funds.

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About Cemex SAB de CV

CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.

Analyst Recommendations for Cemex SAB de CV (NYSE:CX)

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