Cemex (NYSE:CX) Price Target Raised to $14.50 at Scotiabank

Cemex (NYSE:CX) had its price objective increased by stock analysts at Scotiabank from $14.10 to $14.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the construction company’s stock. Scotiabank’s price objective would suggest a potential upside of 13.86% from the stock’s previous close.

A number of other equities analysts have also weighed in on CX. JPMorgan Chase & Co. upped their target price on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Morgan Stanley upgraded Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research note on Monday, March 23rd. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.87.

Cemex Trading Up 2.3%

Shares of CX stock traded up $0.28 on Tuesday, reaching $12.73. 4,086,158 shares of the stock were exchanged, compared to its average volume of 5,991,366. Cemex has a one year low of $7.24 and a one year high of $13.67. The stock has a 50 day moving average price of $12.65 and a 200 day moving average price of $12.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The stock has a market cap of $18.45 billion, a PE ratio of 39.80 and a beta of 1.52.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share (EPS) for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Equities research analysts forecast that Cemex will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the transaction, the insider owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CX. Sequoia Financial Advisors LLC grew its stake in Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after purchasing an additional 913 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cemex by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after buying an additional 1,288 shares in the last quarter. Ieq Capital LLC grew its holdings in Cemex by 7.6% during the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after purchasing an additional 1,380 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after acquiring an additional 1,389 shares in the last quarter. 82.97% of the stock is owned by 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.