Constellium’s (CSTM) Buy Rating Reiterated at Benchmark

Constellium (NYSE:CSTM)‘s stock had its “buy” rating reissued by analysts at Benchmark in a note issued to investors on Friday, Benzinga reports. They currently have a $24.00 price objective on the industrial products company’s stock. Benchmark’s price objective would indicate a potential upside of 15.22% from the company’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Constellium from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellium from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, UBS Group initiated coverage on shares of Constellium in a research note on Tuesday, January 16th. They set a “buy” rating and a $27.00 price objective for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $25.60.

Constellium Stock Performance

NYSE CSTM traded up $0.22 on Friday, reaching $20.83. 247,908 shares of the company’s stock traded hands, compared to its average volume of 698,982. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 22.38 and a beta of 1.71. The stock has a 50 day moving average price of $20.41 and a 200-day moving average price of $18.80. Constellium has a fifty-two week low of $13.40 and a fifty-two week high of $23.20. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.52 and a current ratio of 1.31.

Constellium (NYSE:CSTM) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.23). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Constellium had a return on equity of 16.86% and a net margin of 1.73%. Equities research analysts predict that Constellium will post 1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Constellium

A number of hedge funds have recently made changes to their positions in CSTM. Bank of America Corp DE boosted its position in shares of Constellium by 239.5% during the 4th quarter. Bank of America Corp DE now owns 1,826,280 shares of the industrial products company’s stock worth $21,605,000 after purchasing an additional 3,135,115 shares during the period. Norges Bank purchased a new position in Constellium in the 4th quarter valued at approximately $17,057,000. Millennium Management LLC boosted its position in Constellium by 517.4% in the 2nd quarter. Millennium Management LLC now owns 1,463,960 shares of the industrial products company’s stock valued at $19,339,000 after buying an additional 1,226,857 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Constellium by 84.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,598,159 shares of the industrial products company’s stock valued at $51,860,000 after buying an additional 1,192,105 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Constellium by 2,745.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,016,502 shares of the industrial products company’s stock valued at $18,500,000 after buying an additional 980,781 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About Constellium

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.