Caesarstone Ltd. (NASDAQ:CSTE – Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $2.22 and traded as high as $2.82. Caesarstone shares last traded at $2.70, with a volume of 17,962 shares changing hands.
Analyst Ratings Changes
CSTE has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesarstone in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on CSTE
Caesarstone Stock Down 12.2%
The business has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $2.23. The company has a market capitalization of $81.93 million, a price-to-earnings ratio of -0.57 and a beta of 0.41.
Caesarstone (NASDAQ:CSTE – Get Free Report) last posted its earnings results on Wednesday, August 5th. The construction company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.16. Caesarstone had a negative net margin of 37.37% and a negative return on equity of 32.36%. The company had revenue of $96.55 million during the quarter, compared to the consensus estimate of $102.50 million.
Institutional Trading of Caesarstone
An institutional investor recently raised its stake in Caesarstone stock. Empowered Funds LLC lifted its stake in shares of Caesarstone Ltd. (NASDAQ:CSTE – Free Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,008 shares of the construction company’s stock after buying an additional 5,584 shares during the period. Empowered Funds LLC owned about 0.17% of Caesarstone worth $62,000 at the end of the most recent quarter. Institutional investors own 33.70% of the company’s stock.
About Caesarstone
Caesarstone Ltd. is a manufacturer and marketer of engineered stone and other surface materials used primarily in residential and commercial construction and renovation. The company is best known for quartz surfaces designed for kitchen countertops, bathroom vanities, backsplashes, flooring, wall cladding and other interior applications.
Its product portfolio also includes porcelain and natural stone surfaces, with designs offered in a range of colors, patterns and finishes. Caesarstone sells its products through distributors, retailers, fabricators, kitchen and bath specialists, and building-material channels to homeowners, designers, contractors, builders and commercial customers.
Founded in 1987, Caesarstone originated in Israel and expanded into international markets, serving customers across North America, Europe, Asia-Pacific and other regions.
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