Cemex (NYSE:CX) Price Target Raised to $13.50

Cemex (NYSE:CX) had its price target increased by equities research analysts at Royal Bank Of Canada from $12.75 to $13.50 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 10.52% from the company’s current price.

Several other equities research analysts have also commented on CX. Barclays reiterated an “overweight” rating and set a $16.00 price target (up from $15.00) on shares of Cemex in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Santander upgraded Cemex to an “outperform” rating in a research report on Thursday, June 11th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Cemex Stock Down 0.4%

CX traded down $0.04 on Friday, reaching $12.21. The company’s stock had a trading volume of 633,375 shares, compared to its average volume of 5,980,488. The stock has a 50 day moving average of $12.58 and a two-hundred day moving average of $12.23. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 38.42 and a beta of 1.52. Cemex has a fifty-two week low of $8.15 and a fifty-two week high of $13.67.

Cemex (NYSE:CX) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.48 billion. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, analysts forecast that Cemex will post 0.89 EPS for the current fiscal year.

Insider Activity

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were 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 in the company, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Cemex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthCollab LLC raised its stake in shares of Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares in the last quarter. NFSG Corp grew its holdings in Cemex by 123.5% during the first quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,579 shares during the period. Kestra Advisory Services LLC acquired a new position in Cemex during the fourth quarter worth $34,000. Finally, Militia Capital Partners LP purchased a new position in Cemex in the second quarter worth $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Company Profile

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.