Cemex (NYSE:CX – Get Free Report) had its price target raised by equities research analysts at Scotiabank from $14.10 to $14.50 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the construction company’s stock. Scotiabank’s price objective suggests a potential upside of 13.86% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Santander raised shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Morgan Stanley upgraded shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, March 23rd. JPMorgan Chase & Co. increased their price objective on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $12.75 price target on shares of Cemex in a research report on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cemex presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.87.
Check Out Our Latest Stock Analysis on Cemex
Cemex Price Performance
Cemex (NYSE:CX – Get Free Report) last released its earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, equities analysts forecast that Cemex will post 0.91 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the transaction, the insider directly owned 846,010 shares of the company’s stock, valued at $10,287,481.60. The trade was a 3.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cemex
A number of hedge funds and other institutional investors have recently modified their holdings of the company. WealthCollab LLC grew its position in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares during the last quarter. NFSG Corp increased its holdings in shares of Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,579 shares during the period. Kestra Advisory Services LLC acquired a new position in Cemex during the 4th quarter valued at about $34,000. Finally, Militia Capital Partners LP bought a new stake in shares of Cemex during the second quarter valued at approximately $46,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
About Cemex
Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.
Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.
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