Caesarstone (NASDAQ:CSTE) Upgraded at StockNews.com

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a research note issued to investors on Friday.

Separately, Benchmark decreased their price objective on shares of Caesarstone from $8.00 to $6.00 and set a buy rating for the company in a research report on Thursday, August 8th.

Caesarstone Trading Down 4.5 %

Caesarstone stock opened at $4.63 on Friday. The company has a market cap of $159.88 million, a P/E ratio of -1.46 and a beta of 0.13. Caesarstone has a 1-year low of $3.50 and a 1-year high of $6.81. The company has a fifty day simple moving average of $5.05 and a 200 day simple moving average of $5.23.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, August 7th. The construction company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Caesarstone had a negative net margin of 12.91% and a negative return on equity of 8.21%. The firm had revenue of $119.43 million during the quarter, compared to the consensus estimate of $123.85 million.

Institutional Trading of Caesarstone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP bought a new stake in shares of Caesarstone during the 2nd quarter worth about $28,000. Rhumbline Advisers bought a new stake in shares of Caesarstone during the 2nd quarter worth about $107,000. Acadian Asset Management LLC bought a new stake in shares of Caesarstone during the 2nd quarter worth about $106,000. Marquette Asset Management LLC boosted its holdings in shares of Caesarstone by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 36,291 shares of the construction company’s stock worth $148,000 after buying an additional 6,006 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Caesarstone during the 2nd quarter worth about $293,000. Institutional investors 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.