CEMEX (NYSE:CX) Lowered to Equal Weight at Barclays

Barclays lowered shares of CEMEX (NYSE:CXFree Report) from an overweight rating to an equal weight rating in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $9.00 price target on the construction company’s stock.

A number of other research firms have also weighed in on CX. Bank of America upgraded shares of CEMEX from a neutral rating to a buy rating and upped their target price for the stock from $8.20 to $9.00 in a research note on Tuesday, January 9th. Citigroup reiterated a buy rating and issued a $8.20 price target on shares of CEMEX in a research note on Thursday, November 2nd. Finally, StockNews.com upgraded shares of CEMEX from a buy rating to a strong-buy rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $9.37.

View Our Latest Stock Report on CX

CEMEX Trading Up 1.7 %

NYSE CX opened at $7.79 on Friday. The firm’s 50-day moving average is $7.81 and its two-hundred day moving average is $7.28. CEMEX has a 12 month low of $4.72 and a 12 month high of $8.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.89 and a quick ratio of 0.58. The stock has a market capitalization of $11.29 billion, a P/E ratio of 22.26, a PEG ratio of 0.51 and a beta of 1.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in CEMEX by 76.6% during the 2nd quarter. Capital International Investors now owns 45,688,398 shares of the construction company’s stock worth $323,474,000 after acquiring an additional 19,823,297 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock valued at $161,462,000 after buying an additional 1,521,007 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of CEMEX by 41.4% in the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock valued at $122,996,000 after buying an additional 5,542,723 shares during the period. Schroder Investment Management Group lifted its holdings in shares of CEMEX by 5.6% in the second quarter. Schroder Investment Management Group now owns 15,815,233 shares of the construction company’s stock valued at $111,972,000 after buying an additional 832,865 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CEMEX by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,776,419 shares of the construction company’s stock valued at $59,585,000 after buying an additional 431,683 shares during the period. Institutional investors and hedge funds own 31.81% of the company’s stock.

CEMEX Company Profile

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CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials worldwide. The company also offers asphalt, concrete blocks, concrete block paving, rail sleepers, and flooring systems; architectural concrete products; and box culverts, bridges, drainage basins, barriers, and parking curbs.

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Analyst Recommendations for CEMEX (NYSE:CX)

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