Cemex (NYSE:CX) Upgraded at Wall Street Zen

Cemex (NYSE:CX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on CX. Scotiabank dropped their price target on Cemex from $14.50 to $13.80 and set a “sector outperform” rating on the stock in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Cemex from $13.25 to $13.75 and gave the stock a “sector perform” rating in a report on Tuesday. Weiss Ratings upgraded Cemex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Bradesco Corretora upgraded Cemex from a “neutral” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Thursday. Finally, Zacks Research lowered Cemex from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.92.

Cemex Trading Down 1.0%

Shares of CX stock opened at $10.72 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.95 and a quick ratio of 0.68. Cemex has a 1-year low of $9.30 and a 1-year high of $13.67. The stock has a market capitalization of $15.53 billion, a PE ratio of 22.10 and a beta of 1.51. The business has a 50-day moving average of $10.24 and a 200 day moving average of $11.65.

Cemex (NYSE:CX) last posted its quarterly earnings results on Monday, October 26th. The construction company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.47 billion. Cemex had a net margin of 3.60% and a return on equity of 5.18%. As a group, sell-side analysts anticipate that Cemex will post 0.87 earnings per share for the current year.

Insider Transactions at Cemex

In related news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the completion of the sale, the vice president owned 289,490 shares of the company’s stock, valued at approximately $3,091,753.20. This represents a 42.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mauricio Doehner sold 927,900 shares of Cemex stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the sale, the executive vice president owned 584,930 shares of the company’s stock, valued at approximately $5,597,780.10. This represents a 61.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Cemex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in Cemex by 7.4% during the first quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company’s stock worth $47,482,000 after purchasing an additional 287,350 shares in the last quarter. Militia Capital Management LLC acquired a new stake in Cemex during the 1st quarter valued at $1,086,000. ABC Arbitrage SA acquired a new position in Cemex in the 1st quarter valued at about $13,425,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Cemex by 1,747.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock worth $41,710,000 after acquiring an additional 3,448,600 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Cemex in the 2nd quarter valued at about $683,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.

Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.