The Goldman Sachs Group Boosts CEMEX (NYSE:CX) Price Target to $10.00

CEMEX (NYSE:CX) had its price objective hoisted by analysts at The Goldman Sachs Group from $9.00 to $10.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.07% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays cut shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a research report on Friday, February 9th. Bank of America cut shares of CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday. Finally, StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.53.

CEMEX Stock Performance

Shares of CX traded up $0.08 on Friday, reaching $8.26. The company’s stock had a trading volume of 2,046,199 shares, compared to its average volume of 6,662,587. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.74 and a quick ratio of 0.47. The stock has a market capitalization of $11.97 billion, a P/E ratio of 68.83, a PEG ratio of 0.16 and a beta of 1.47. The stock’s 50 day simple moving average is $8.31 and its two-hundred day simple moving average is $7.61. CEMEX has a 12-month low of $5.67 and a 12-month high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The firm had revenue of $4.24 billion for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. Research analysts forecast that CEMEX will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of CEMEX

A number of large investors have recently made changes to their positions in the stock. Capital International Investors boosted its stake in shares of CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after purchasing an additional 152,587 shares during the period. Principal Financial Group Inc. lifted its stake in CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after acquiring an additional 1,521,007 shares during the period. Acadian Asset Management LLC lifted its stake in CEMEX by 41.4% in the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after acquiring an additional 5,542,723 shares during the period. Schroder Investment Management Group lifted its stake in CEMEX by 17.6% in the fourth quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after acquiring an additional 1,471,407 shares during the period. Finally, American Century Companies Inc. lifted its stake in CEMEX by 3.4% in the third quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock worth $63,341,000 after acquiring an additional 318,541 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Company Profile

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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.