Cemex SAB de CV (NYSE:CX) Upgraded by Zacks Investment Research to Buy

Cemex SAB de CV (NYSE:CX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $3.25 price objective on the construction company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.85% from the stock’s current price.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

A number of other equities analysts also recently issued reports on the company. Credit Suisse Group downgraded Cemex SAB de CV from an “outperform” rating to a “neutral” rating in a research report on Monday, April 6th. Bradesco Corretora lowered shares of Cemex SAB de CV from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Tuesday, April 14th. Exane BNP Paribas lowered shares of Cemex SAB de CV from a “neutral” rating to an “underperform” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. lowered shares of Cemex SAB de CV from an “overweight” rating to a “neutral” rating in a report on Monday, April 6th. Finally, Bank of America boosted their price objective on shares of Cemex SAB de CV from $3.00 to $3.50 and gave the company a “buy” rating in a report on Thursday, June 18th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Cemex SAB de CV currently has a consensus rating of “Hold” and a consensus price target of $2.80.

Shares of Cemex SAB de CV stock traded up $0.04 on Tuesday, hitting $2.88. 4,641,583 shares of the company traded hands, compared to its average volume of 10,211,790. The stock’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.98. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 1.00. Cemex SAB de CV has a 52 week low of $1.55 and a 52 week high of $4.37. The company has a market cap of $4.13 billion, a PE ratio of 28.80 and a beta of 1.42.

Cemex SAB de CV (NYSE:CX) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $0.01 EPS for the quarter. The company had revenue of $3.09 billion during the quarter. Cemex SAB de CV had a net margin of 1.09% and a return on equity of 1.10%.

Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC raised its position in shares of Cemex SAB de CV by 88.8% during the 1st quarter. HighTower Advisors LLC now owns 24,243 shares of the construction company’s stock worth $51,000 after purchasing an additional 11,400 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Cemex SAB de CV by 20.2% during the 1st quarter. APG Asset Management N.V. now owns 2,645,044 shares of the construction company’s stock worth $10,930,000 after purchasing an additional 444,100 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Cemex SAB de CV during the 1st quarter worth about $98,000. Engineers Gate Manager LP acquired a new position in shares of Cemex SAB de CV during the 1st quarter worth about $46,000. Finally, Paloma Partners Management Co raised its position in shares of Cemex SAB de CV by 160.5% during the 1st quarter. Paloma Partners Management Co now owns 61,853 shares of the construction company’s stock worth $131,000 after purchasing an additional 38,105 shares during the last quarter. Institutional investors and hedge funds own 33.74% of the company’s stock.

About Cemex SAB de CV

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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

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