CEMEX, S.A.B. de C.V. (NYSE:CX) Sees Large Increase in Short Interest

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 10,960,000 shares, an increase of 90.6% from the March 31st total of 5,750,000 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 7,110,000 shares, the short-interest ratio is presently 1.5 days.

CEMEX Stock Performance

CX stock traded up $0.09 during trading on Friday, reaching $8.27. 4,029,583 shares of the stock were exchanged, compared to its average volume of 6,985,070. CEMEX has a twelve month low of $5.67 and a twelve month high of $9.27. The company has a market capitalization of $11.98 billion, a P/E ratio of 59.07, a price-to-earnings-growth ratio of 0.17 and a beta of 1.47. The stock has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $7.64. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

CEMEX (NYSE:CX) last released its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.81%. As a group, sell-side analysts anticipate that CEMEX will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CX shares. Barclays cut CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research report on Friday, February 9th. The Goldman Sachs Group lifted their price objective on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Wednesday. Finally, StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CX. Creative Financial Designs Inc. ADV bought a new position in CEMEX in the 4th quarter worth approximately $26,000. CWM LLC raised its position in CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. raised its position in CEMEX by 65.0% in the 4th quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,062 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CEMEX by 40.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock worth $55,000 after purchasing an additional 2,454 shares during the last quarter. Finally, MQS Management LLC bought a new position in CEMEX in the 3rd quarter worth approximately $70,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.