Caesarstone (CSTE) Cut to Sell at ValuEngine

ValuEngine lowered shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a sell rating in a report released on Thursday morning.

CSTE has been the subject of a number of other reports. Credit Suisse Group set a $13.00 price objective on Caesarstone and gave the stock a sell rating in a report on Friday, July 6th. BidaskClub raised Caesarstone from a sell rating to a hold rating in a report on Monday, October 15th. Finally, Zacks Investment Research raised Caesarstone from a sell rating to a hold rating in a report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.33.

CSTE traded down $0.19 during midday trading on Thursday, reaching $16.30. 333,306 shares of the company were exchanged, compared to its average volume of 165,023. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 3.11. The firm has a market capitalization of $559.89 million, a P/E ratio of 12.26 and a beta of 2.01. Caesarstone has a one year low of $12.50 and a one year high of $26.50.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, August 8th. The construction company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $149.24 million during the quarter, compared to analyst estimates of $152.22 million. Caesarstone had a return on equity of 5.64% and a net margin of 2.28%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. On average, equities analysts forecast that Caesarstone will post 0.77 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CSTE. Cubist Systematic Strategies LLC bought a new position in shares of Caesarstone in the first quarter valued at approximately $107,000. Nisa Investment Advisors LLC bought a new position in shares of Caesarstone in the third quarter valued at approximately $137,000. FMR LLC bought a new position in shares of Caesarstone in the second quarter valued at approximately $151,000. Stifel Financial Corp lifted its stake in Caesarstone by 49.0% in the first quarter. Stifel Financial Corp now owns 14,374 shares of the construction company’s stock valued at $285,000 after purchasing an additional 4,730 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Caesarstone in the second quarter valued at approximately $415,000. 47.15% of the stock is owned by institutional investors.

About Caesarstone

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.

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