Wells Fargo & Company Issues Pessimistic Forecast for Constellium (NYSE:CSTM) Stock Price

Constellium (NYSE:CSTM) had its price target dropped by investment analysts at Wells Fargo & Company from $39.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 25.03% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group decreased their price target on shares of Constellium from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $34.00 price objective (up from $30.00) on shares of Constellium in a research note on Thursday, April 30th. Zacks Research cut shares of Constellium from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. BMO Capital Markets set a $32.00 price target on shares of Constellium and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Weiss Ratings lowered Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.60.

Constellium Stock Performance

NYSE CSTM opened at $29.59 on Thursday. The stock has a market capitalization of $4.03 billion, a PE ratio of 9.58 and a beta of 1.55. The business has a 50 day simple moving average of $33.07 and a two-hundred day simple moving average of $27.45. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.39 and a quick ratio of 0.60. Constellium has a 1-year low of $13.04 and a 1-year high of $36.99.

Constellium (NYSE:CSTM) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.80. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Constellium had a return on equity of 46.22% and a net margin of 4.87%.During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, research analysts predict that Constellium will post 3.34 EPS for the current fiscal year.

Constellium announced that its board has initiated a stock buyback program on Thursday, March 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CFO Jack Q. Guo sold 25,201 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $32.62, for a total transaction of $822,056.62. Following the transaction, the chief financial officer owned 185,368 shares of the company’s stock, valued at approximately $6,046,704.16. This represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philippe Hoffmann sold 50,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $31.92, for a total value of $1,596,000.00. Following the completion of the sale, the insider owned 144,153 shares in the company, valued at approximately $4,601,363.76. The trade was a 25.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 195,153 shares of company stock worth $6,369,312 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Constellium

A number of hedge funds and other institutional investors have recently bought and sold shares of CSTM. Farther Finance Advisors LLC grew its holdings in shares of Constellium by 6,985.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,488 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,467 shares during the last quarter. Allworth Financial LP increased its position in shares of Constellium by 52.5% during the fourth quarter. Allworth Financial LP now owns 2,074 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 714 shares during the period. GAMMA Investing LLC raised its stake in shares of Constellium by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 707 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Constellium by 34.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,151 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 803 shares in the last quarter. Finally, Quarry LP increased its holdings in Constellium by 53.7% during the 3rd quarter. Quarry LP now owns 5,610 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,960 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.