CEMEX (NYSE:CX) Price Target Raised to $9.00 at The Goldman Sachs Group

CEMEX (NYSE:CX) had its price target raised by The Goldman Sachs Group from $8.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 40.73% from the stock’s previous close.

Separately, Royal Bank of Canada boosted their target price on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CEMEX currently has a consensus rating of “Hold” and an average target price of $7.82.

CEMEX Stock Down 1.0 %

Shares of NYSE CX traded down $0.07 during midday trading on Thursday, hitting $6.40. 2,273,256 shares of the company’s stock were exchanged, compared to its average volume of 9,465,936. The company has a market cap of $9.27 billion, a PE ratio of 10.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The firm’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.91.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Research analysts predict that CEMEX will post 0.69 EPS for the current fiscal year.

Institutional Trading of CEMEX

Several large investors have recently bought and sold shares of CX. IFP Advisors Inc boosted its position in shares of CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares in the last quarter. Barclays PLC lifted its holdings in shares of CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares in the last quarter. Allworth Financial LP grew its position in shares of CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of CEMEX during the 4th quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of CEMEX during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.