Caesarstone (NASDAQ:CSTE) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Caesarstone (NASDAQ:CSTE) from a sell rating to a hold rating in a research note issued to investors on Thursday, June 13th, BidAskClub reports.

Several other research analysts also recently issued reports on CSTE. Zacks Investment Research raised Caesarstone from a strong sell rating to a hold rating in a research note on Tuesday, April 9th. ValuEngine raised Caesarstone from a hold rating to a buy rating in a research note on Thursday, May 9th.

NASDAQ CSTE traded up $0.39 during trading on Thursday, hitting $15.53. 226,939 shares of the company’s stock were exchanged, compared to its average volume of 110,581. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.80 and a current ratio of 3.20. The stock has a market capitalization of $533.66 million, a P/E ratio of 21.57 and a beta of 1.63. Caesarstone has a fifty-two week low of $12.49 and a fifty-two week high of $21.80. The firm’s 50 day moving average price is $14.53.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, May 1st. The construction company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.09. Caesarstone had a return on equity of 4.78% and a net margin of 3.96%. The firm had revenue of $128.00 million during the quarter, compared to the consensus estimate of $132.66 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities analysts predict that Caesarstone will post 0.7 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in Caesarstone by 10.4% in the fourth quarter. Legal & General Group Plc now owns 8,616 shares of the construction company’s stock valued at $117,000 after acquiring an additional 813 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Caesarstone during the 1st quarter worth approximately $27,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of Caesarstone by 67.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 4,366 shares of the construction company’s stock worth $68,000 after buying an additional 1,766 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Caesarstone during the 1st quarter worth approximately $31,000. Finally, Morgan Stanley boosted its holdings in shares of Caesarstone by 5.1% during the 3rd quarter. Morgan Stanley now owns 76,747 shares of the construction company’s stock worth $1,424,000 after buying an additional 3,744 shares in the last quarter. Institutional investors and hedge funds own 45.63% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

Further Reading: What are retained earnings?

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