BidaskClub upgraded shares of Caesarstone (NASDAQ:CSTE) from a strong sell rating to a sell rating in a research report released on Tuesday morning.
CSTE has been the subject of several other research reports. Zacks Investment Research upgraded shares of Caesarstone from a hold rating to a buy rating and set a $34.00 price target for the company in a research report on Wednesday, October 4th. Chardan Capital restated a neutral rating and set a $32.00 price target (down previously from $43.00) on shares of Caesarstone in a research report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. downgraded shares of Caesarstone from a neutral rating to an underweight rating and set a $25.00 price target for the company. in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $35.00.
Shares of Caesarstone (CSTE) remained flat at $$24.50 during trading on Tuesday. The stock had a trading volume of 263,264 shares, compared to its average volume of 289,223. Caesarstone has a 52-week low of $21.15 and a 52-week high of $44.00. The company has a quick ratio of 2.20, a current ratio of 3.31 and a debt-to-equity ratio of 0.02. The firm has a market cap of $841.30, a price-to-earnings ratio of 18.01 and a beta of 2.10.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of Caesarstone by 63.5% during the 2nd quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock worth $160,000 after purchasing an additional 1,778 shares during the last quarter. Sensato Investors LLC acquired a new position in shares of Caesarstone during the 2nd quarter worth about $207,000. Janney Capital Management LLC acquired a new position in shares of Caesarstone during the 3rd quarter worth about $213,000. Principal Financial Group Inc. acquired a new stake in Caesarstone in the 2nd quarter valued at about $225,000. Finally, Stevens Capital Management LP acquired a new stake in Caesarstone in the 3rd quarter valued at about $226,000. Hedge funds and other institutional investors own 49.64% of the company’s stock.
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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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