Caesarstone Ltd (NASDAQ:CSTE) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.25.
Several analysts have weighed in on CSTE shares. Zacks Investment Research downgraded Caesarstone from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Chardan Capital reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $43.00) on shares of Caesarstone in a research report on Tuesday, November 7th. Credit Suisse Group downgraded Caesarstone from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $28.00 to $21.00 in a research report on Monday, January 22nd. BidaskClub downgraded Caesarstone from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, JPMorgan Chase & Co. cut Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 target price on the stock. in a research note on Thursday, November 2nd.
A number of hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in Caesarstone by 5.5% in the second quarter. Alliancebernstein L.P. now owns 30,700 shares of the construction company’s stock worth $1,076,000 after purchasing an additional 1,600 shares during the period. California Public Employees Retirement System grew its stake in Caesarstone by 2.3% in the second quarter. California Public Employees Retirement System now owns 72,700 shares of the construction company’s stock worth $2,548,000 after purchasing an additional 1,600 shares during the period. Voya Investment Management LLC grew its stake in Caesarstone by 19.1% in the second quarter. Voya Investment Management LLC now owns 10,838 shares of the construction company’s stock worth $380,000 after purchasing an additional 1,737 shares during the period. SG Americas Securities LLC grew its stake in Caesarstone by 53.9% in the third quarter. SG Americas Securities LLC now owns 7,042 shares of the construction company’s stock worth $210,000 after purchasing an additional 2,465 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Caesarstone by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 28,114 shares of the construction company’s stock worth $839,000 after purchasing an additional 2,921 shares during the period. 45.49% of the stock is currently owned by institutional investors.
Shares of Caesarstone (NASDAQ CSTE) opened at $22.05 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.97 and a quick ratio of 1.92. Caesarstone has a 12-month low of $19.55 and a 12-month high of $44.00. The firm has a market capitalization of $757.17, a P/E ratio of 19.86 and a beta of 1.88.
Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.08). Caesarstone had a net margin of 4.52% and a return on equity of 8.50%. The company had revenue of $148.14 million during the quarter, compared to the consensus estimate of $144.97 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts expect that Caesarstone will post 1.36 earnings per share for the current fiscal year.
The company also recently declared a dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, February 20th.
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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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