Caesarstone (NASDAQ:CSTE) Raised to “Buy” at StockNews.com

Caesarstone (NASDAQ:CSTE) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Caesarstone Stock Up 1.9 %

NASDAQ CSTE opened at $4.33 on Tuesday. The firm has a 50-day moving average price of $4.38 and a two-hundred day moving average price of $4.68. Caesarstone has a 12-month low of $3.76 and a 12-month high of $6.81. The company has a market capitalization of $149.52 million, a P/E ratio of -2.15 and a beta of 0.18.

Institutional Investors Weigh In On Caesarstone

A number of large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in shares of Caesarstone during the 3rd quarter valued at $55,000. Acadian Asset Management LLC acquired a new position in Caesarstone in the second quarter valued at about $106,000. Rhumbline Advisers bought a new stake in Caesarstone during the second quarter worth about $107,000. Empowered Funds LLC acquired a new stake in Caesarstone during the third quarter worth about $164,000. Finally, JPMorgan Chase & Co. increased its holdings in Caesarstone by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after buying an additional 26,705 shares during the period. Institutional investors and hedge funds own 33.70% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.