Caesarstone (CSTE) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Caesarstone (NASDAQ:CSTE) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other research firms also recently weighed in on CSTE. BidaskClub upgraded shares of Caesarstone from a sell rating to a hold rating in a research note on Saturday, September 22nd. Credit Suisse Group set a $13.00 price target on shares of Caesarstone and gave the stock a sell rating in a research note on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Caesarstone currently has an average rating of Hold and a consensus target price of $21.33.

CSTE stock traded up $0.38 on Friday, reaching $15.02. 134,718 shares of the company were exchanged, compared to its average volume of 166,742. Caesarstone has a 12 month low of $12.50 and a 12 month high of $26.50. The firm has a market capitalization of $502.86 million, a P/E ratio of 16.83 and a beta of 1.94. The company has a current ratio of 3.60, a quick ratio of 2.05 and a debt-to-equity ratio of 0.02.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Wednesday, November 7th. The construction company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. Caesarstone had a net margin of 2.93% and a return on equity of 6.40%. The firm had revenue of $147.70 million for the quarter, compared to the consensus estimate of $155.54 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. Equities research analysts anticipate that Caesarstone will post 0.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 3.20%. Caesarstone’s dividend payout ratio is currently 45.11%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in Caesarstone during the third quarter worth $137,000. FMR LLC acquired a new stake in shares of Caesarstone in the 2nd quarter valued at $151,000. Marshall Wace North America L.P. acquired a new stake in shares of Caesarstone in the 3rd quarter valued at $214,000. Hartford Investment Management Co. acquired a new stake in shares of Caesarstone in the 3rd quarter valued at $305,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Caesarstone in the 3rd quarter valued at $375,000. Hedge funds and other institutional investors own 45.80% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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