BidaskClub Downgrades Caesarstone (CSTE) to Hold

Caesarstone (NASDAQ:CSTE) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research analysts also recently issued reports on the stock. Credit Suisse Group set a $13.00 price target on shares of Caesarstone and gave the stock a “sell” rating in a research report on Thursday, November 15th. ValuEngine upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Finally, Zacks Investment Research downgraded shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.00.

CSTE opened at $15.87 on Friday. Caesarstone has a fifty-two week low of $12.49 and a fifty-two week high of $21.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.73 and a current ratio of 3.15. The company has a market cap of $545.12 million, a price-to-earnings ratio of 22.04 and a beta of 1.72.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, February 6th. The construction company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.10). Caesarstone had a return on equity of 5.21% and a net margin of 4.24%. The business had revenue of $142.88 million for the quarter, compared to the consensus estimate of $141.16 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Caesarstone will post 0.67 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Caesarstone by 2.4% in the 3rd quarter. BlackRock Inc. now owns 1,674,740 shares of the construction company’s stock worth $31,067,000 after purchasing an additional 39,538 shares during the period. FMR LLC lifted its position in shares of Caesarstone by 7,186.0% in the 3rd quarter. FMR LLC now owns 728,600 shares of the construction company’s stock worth $13,516,000 after purchasing an additional 718,600 shares during the period. Stone Ridge Asset Management LLC lifted its position in shares of Caesarstone by 22.0% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 37,851 shares of the construction company’s stock worth $703,000 after purchasing an additional 6,819 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Caesarstone in the 3rd quarter worth approximately $442,000. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of Caesarstone by 18.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 705,613 shares of the construction company’s stock worth $9,582,000 after purchasing an additional 109,300 shares during the period. Hedge funds and other institutional investors own 48.83% of the company’s stock.

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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