Cemex (NYSE:CX) Raised to Strong-Buy at Zacks Research

Cemex (NYSE:CX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $15.00 price target on shares of Cemex in a research note on Tuesday, January 27th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and increased their price target for the stock from $9.00 to $10.00 in a report on Monday, October 13th. The Goldman Sachs Group boosted their price objective on shares of Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Finally, Bank of America raised Cemex from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $10.80 in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cemex has an average rating of “Hold” and a consensus target price of $10.52.

Cemex Stock Down 3.3%

NYSE CX traded down $0.43 on Monday, reaching $12.33. The company had a trading volume of 2,394,535 shares, compared to its average volume of 6,229,055. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $17.86 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.86 and a beta of 1.61. The company’s fifty day moving average is $11.84 and its 200 day moving average is $10.16. Cemex has a 52-week low of $4.89 and a 52-week high of $13.35.

Hedge Funds Weigh In On Cemex

Institutional investors and hedge funds have recently made changes to their positions in the business. D Orazio & Associates Inc. raised its stake in Cemex by 83.8% during the fourth quarter. D Orazio & Associates Inc. now owns 23,703 shares of the construction company’s stock valued at $272,000 after buying an additional 10,809 shares during the last quarter. Diversify Wealth Management LLC raised its holdings in Cemex by 8.8% in the fourth quarter. Diversify Wealth Management LLC now owns 136,124 shares of the construction company’s stock worth $1,682,000 after buying an additional 11,052 shares during the last quarter. MGO One Seven LLC grew its holdings in shares of Cemex by 66.7% during the fourth quarter. MGO One Seven LLC now owns 24,825 shares of the construction company’s stock valued at $285,000 after buying an additional 9,934 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after acquiring an additional 913 shares in the last quarter. Finally, Indivisible Partners purchased a new position in Cemex in the 4th quarter worth approximately $118,000. Institutional investors 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.