BidaskClub upgraded shares of Caesarstone (NASDAQ:CSTE) from a strong sell rating to a sell rating in a report released on Tuesday.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Caesarstone from a hold rating to a strong sell rating in a report on Tuesday, November 7th. JPMorgan Chase & Co. downgraded shares of Caesarstone from a neutral rating to an underweight rating and set a $25.00 price objective for the company. in a report on Thursday, November 2nd. Finally, Chardan Capital reiterated a neutral rating and issued a $32.00 price objective (down previously from $43.00) on shares of Caesarstone in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $35.00.
Caesarstone (NASDAQ CSTE) remained flat at $$24.50 during mid-day trading on Tuesday. 263,264 shares of the stock were exchanged, compared to its average volume of 289,223. The company has a market cap of $841.30, a price-to-earnings ratio of 18.01 and a beta of 2.10. 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.
Several institutional investors have recently bought and sold shares of the company. Janney Capital Management LLC purchased a new stake in shares of Caesarstone in the 3rd quarter valued at approximately $213,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Caesarstone in the 3rd quarter valued at approximately $332,000. Elk Creek Partners LLC grew its stake in shares of Caesarstone by 22.2% in the 3rd quarter. Elk Creek Partners LLC now owns 372,740 shares of the construction company’s stock valued at $11,108,000 after buying an additional 67,637 shares during the period. Formula Growth Ltd. grew its stake in shares of Caesarstone by 135.4% in the 3rd quarter. Formula Growth Ltd. now owns 243,398 shares of the construction company’s stock valued at $7,253,000 after buying an additional 140,000 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. grew its stake in shares of Caesarstone by 28.8% in the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 171,072 shares of the construction company’s stock valued at $5,092,000 after buying an additional 38,257 shares during the period. 49.64% of the stock is owned by institutional investors and hedge funds.
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Caesarstone Company Profile
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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