Caesarstone (CSTE) Downgraded to Sell at ValuEngine

Caesarstone (NASDAQ:CSTE) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts have also weighed in on CSTE. BidaskClub upgraded Caesarstone from a “strong sell” rating to a “sell” rating in a report on Saturday, August 11th. Credit Suisse Group set a $13.00 target price on Caesarstone and gave the stock a “sell” rating in a report on Friday, July 6th. Finally, Zacks Investment Research upgraded Caesarstone from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.33.

Shares of Caesarstone stock traded up $0.70 during trading on Thursday, hitting $16.49. 210,700 shares of the stock traded hands, compared to its average volume of 293,434. The firm has a market cap of $550.61 million, a price-to-earnings ratio of 12.40 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.85. Caesarstone has a twelve month low of $12.50 and a twelve month high of $26.50.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 8th. The construction company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.18. The business had revenue of $149.24 million during the quarter, compared to analyst estimates of $152.22 million. Caesarstone had a return on equity of 5.64% and a net margin of 2.28%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. As a group, equities research analysts predict that Caesarstone will post 0.77 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CSTE. Cubist Systematic Strategies LLC acquired a new stake in Caesarstone in the 1st quarter worth approximately $107,000. Nisa Investment Advisors LLC acquired a new stake in Caesarstone in the 3rd quarter worth approximately $137,000. FMR LLC bought a new position in Caesarstone in the 2nd quarter worth approximately $151,000. Stifel Financial Corp increased its position in Caesarstone by 49.0% in the 1st quarter. Stifel Financial Corp now owns 14,374 shares of the construction company’s stock worth $285,000 after buying an additional 4,730 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Caesarstone in the 2nd quarter worth approximately $415,000. Hedge funds and other institutional investors own 47.15% 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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