Cemex SAB de CV (NYSE:CX) Receives $5.14 Average Price Target from Brokerages

Shares of Cemex SAB de CV (NYSE:CX) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.14.

CX has been the topic of a number of research analyst reports. Bank of America cut their price target on shares of Cemex SAB de CV from $5.00 to $4.80 and set a “buy” rating on the stock in a report on Thursday, February 13th. Loop Capital initiated coverage on shares of Cemex SAB de CV in a report on Thursday, December 19th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised shares of Cemex SAB de CV from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Wednesday, February 12th.

Shares of NYSE:CX traded down $0.26 during midday trading on Friday, reaching $3.38. The company had a trading volume of 21,933,000 shares, compared to its average volume of 9,272,219. The company’s 50 day moving average price is $4.02 and its 200 day moving average price is $3.80. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.41 billion, a P/E ratio of 33.80 and a beta of 1.35. Cemex SAB de CV has a 52-week low of $2.82 and a 52-week high of $5.10.

A number of institutional investors have recently made changes to their positions in CX. Cornerstone Advisors Inc. raised its holdings in Cemex SAB de CV by 106.3% in the fourth quarter. Cornerstone Advisors Inc. now owns 7,162 shares of the construction company’s stock worth $27,000 after purchasing an additional 3,691 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Cemex SAB de CV by 57.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,503 shares of the construction company’s stock worth $31,000 after purchasing an additional 3,115 shares during the period. Madison Wealth Management purchased a new position in shares of Cemex SAB de CV in the 4th quarter worth approximately $38,000. B. Riley Wealth Management Inc. purchased a new position in shares of Cemex SAB de CV in the 4th quarter worth approximately $41,000. Finally, Howard Financial Services LTD. purchased a new position in shares of Cemex SAB de CV in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 32.92% 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.

Featured Article: How to calculate the annual rate of depreciation

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

Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.