CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “
A number of other research analysts have also commented on the stock. TheStreet lowered shares of CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research report on Friday, September 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $47.00 price objective on shares of CaesarStone Sdot-Yam in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.57.
Shares of CaesarStone Sdot-Yam (NASDAQ:CSTE) opened at 37.80 on Tuesday. The firm’s 50-day moving average price is $38.45 and its 200 day moving average price is $37.26. The company has a market capitalization of $1.32 billion, a PE ratio of 17.66 and a beta of 2.03. CaesarStone Sdot-Yam has a 1-year low of $27.31 and a 1-year high of $43.52.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The firm earned $142.30 million during the quarter, compared to analyst estimates of $139.53 million. CaesarStone Sdot-Yam had a net margin of 14.46% and a return on equity of 19.69%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. Equities analysts predict that CaesarStone Sdot-Yam will post $2.58 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Citigroup Inc. increased its stake in CaesarStone Sdot-Yam by 4.0% in the second quarter. Citigroup Inc. now owns 9,423 shares of the company’s stock valued at $327,000 after buying an additional 359 shares in the last quarter. Genesee Valley Trust Co. increased its stake in CaesarStone Sdot-Yam by 7.9% in the second quarter. Genesee Valley Trust Co. now owns 6,681 shares of the company’s stock valued at $232,000 after buying an additional 490 shares in the last quarter. Geode Capital Management LLC increased its stake in CaesarStone Sdot-Yam by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,465 shares of the company’s stock valued at $462,000 after buying an additional 839 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in CaesarStone Sdot-Yam by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 61,655 shares of the company’s stock valued at $2,118,000 after buying an additional 1,933 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in CaesarStone Sdot-Yam by 40.3% in the second quarter. BlackRock Group LTD now owns 7,427 shares of the company’s stock valued at $259,000 after buying an additional 2,132 shares in the last quarter. 63.75% of the stock is owned by institutional investors and hedge funds.
CaesarStone Sdot-Yam Company Profile
Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CaesarStone Sdot-Yam Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CaesarStone Sdot-Yam Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.