Chardan Capital upgraded shares of Caesarstone (NASDAQ:CSTE) from a neutral rating to a buy rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Chardan Capital currently has $32.00 price target on the construction company’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Caesarstone from a strong sell rating to a hold rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lowered shares of Caesarstone from a neutral rating to an underweight rating and set a $25.00 target price on the stock. in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average target price of $35.00.
Caesarstone (CSTE) remained flat at $$24.50 during mid-day trading on Monday. 263,264 shares of the company’s stock traded hands, compared to its average volume of 273,800. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02. Caesarstone has a twelve month low of $21.15 and a twelve month high of $44.00. The company has a market cap of $841.30, a P/E ratio of 17.63 and a beta of 2.10.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in Caesarstone by 63.5% in the 2nd quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock worth $160,000 after acquiring an additional 1,778 shares during the last quarter. Sensato Investors LLC bought a new stake in Caesarstone in the 2nd quarter worth $207,000. Janney Capital Management LLC bought a new stake in Caesarstone in the 3rd quarter worth $213,000. Principal Financial Group Inc. bought a new stake in Caesarstone in the 2nd quarter worth $225,000. Finally, Stevens Capital Management LP bought a new stake in Caesarstone in the 3rd quarter worth $226,000. 49.64% of the stock is currently owned by institutional investors and hedge funds.
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Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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