Caesarstone (NASDAQ:CSTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, Zacks.com reports. The brokerage presently has a $18.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.14% from the stock’s previous close.
According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “
CSTE has been the topic of several other reports. BidaskClub raised shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus raised shares of Caesarstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a report on Thursday. Finally, ValuEngine raised shares of Caesarstone from a “hold” rating to a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Caesarstone presently has a consensus rating of “Hold” and an average target price of $16.33.
Caesarstone stock traded down $0.49 during trading hours on Monday, hitting $15.91. The company had a trading volume of 84,200 shares, compared to its average volume of 121,147. The stock has a market capitalization of $562.13 million, a price-to-earnings ratio of 22.10 and a beta of 1.60. The company has a current ratio of 3.24, a quick ratio of 1.80 and a debt-to-equity ratio of 0.15. Caesarstone has a one year low of $12.49 and a one year high of $21.80. The business’s 50-day moving average is $14.94.
Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. The firm had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $147.02 million. Caesarstone had a net margin of 3.20% and a return on equity of 3.80%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Equities analysts expect that Caesarstone will post 0.68 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Caesarstone during the 1st quarter worth approximately $27,000. Quantamental Technologies LLC acquired a new stake in shares of Caesarstone during the 1st quarter worth approximately $31,000. Bank of Montreal Can boosted its position in shares of Caesarstone by 233.7% during the 2nd quarter. Bank of Montreal Can now owns 2,683 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,879 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Caesarstone by 67.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 4,366 shares of the construction company’s stock worth $68,000 after acquiring an additional 1,766 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Caesarstone by 505.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,772 shares of the construction company’s stock worth $74,000 after acquiring an additional 3,984 shares in the last quarter. 45.55% of the stock is currently owned by institutional investors.
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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