Caesarstone (CSTE) Lifted to “Hold” at ValuEngine

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

CSTE has been the subject of several other reports. Credit Suisse Group dropped their price objective on Caesarstone from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, November 8th. BidaskClub raised Caesarstone from a hold rating to a buy rating in a report on Tuesday, November 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Caesarstone has a consensus rating of Hold and a consensus target price of $21.33.

NASDAQ CSTE traded up $0.38 on Friday, hitting $15.02. 134,718 shares of the company were exchanged, compared to its average volume of 166,742. The company has a market cap of $502.86 million, a price-to-earnings ratio of 16.83 and a beta of 1.94. The company has a quick ratio of 2.05, a current ratio of 3.60 and a debt-to-equity ratio of 0.02. Caesarstone has a 1-year low of $12.50 and a 1-year high of $26.50.

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

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

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new stake in Caesarstone during the 3rd quarter worth about $137,000. FMR LLC bought a new stake in Caesarstone during the 2nd quarter worth about $151,000. Marshall Wace North America L.P. bought a new stake in Caesarstone during the 3rd quarter worth about $214,000. Hartford Investment Management Co. bought a new stake in Caesarstone during the 3rd quarter worth about $305,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Caesarstone during the 3rd quarter worth about $375,000. 45.80% of the stock is owned by hedge funds and other institutional investors.

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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