Caesarstone (NASDAQ:CSTE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Caesarstone (NASDAQ:CSTE) from a strong sell rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesarstone in a research report on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Caesarstone currently has an average rating of “Sell”.

Caesarstone Trading Up 10.9%

NASDAQ CSTE opened at $2.55 on Friday. Caesarstone has a 1 year low of $0.56 and a 1 year high of $2.62. The company has a market cap of $88.15 million, a PE ratio of -0.62 and a beta of 0.37. The stock’s 50-day moving average price is $2.10 and its two-hundred day moving average price is $1.75.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, August 5th. The construction company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.16. The company had revenue of $96.55 million during the quarter, compared to analyst estimates of $102.50 million. Caesarstone had a negative return on equity of 32.36% and a negative net margin of 37.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of Caesarstone during the second quarter worth $263,000. Citadel Advisors LLC grew its stake in Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Caesarstone in the second quarter valued at about $56,000. Virtu Financial LLC acquired a new position in Caesarstone in the 4th quarter worth about $30,000. Finally, Pitcairn Co. acquired a new position in Caesarstone in the 2nd quarter worth about $31,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.