Bank of America Lowers CEMEX (NYSE:CX) to Neutral

CEMEX (NYSE:CX) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $9.00 target price on the construction company’s stock. Bank of America‘s target price would indicate a potential upside of 8.70% from the stock’s current price.

CX has been the topic of a number of other reports. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. Barclays cut shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 target price on the stock. in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CEMEX presently has an average rating of “Moderate Buy” and a consensus target price of $9.37.

CEMEX Stock Up 1.2 %

CX stock opened at $8.28 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. CEMEX has a twelve month low of $5.67 and a twelve month high of $9.27. The company’s 50 day moving average is $8.28 and its two-hundred day moving average is $7.59. The stock has a market cap of $12.00 billion, a P/E ratio of 69.00, a PEG ratio of 0.15 and a beta of 1.47.

CEMEX (NYSE:CX) last released its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. Research analysts expect that CEMEX will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC boosted its position in shares of CEMEX by 6.9% during the 1st quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,358 shares in the last quarter. Aprio Wealth Management LLC boosted its position in shares of CEMEX by 8.9% during the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock worth $158,000 after purchasing an additional 1,431 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of CEMEX by 11.5% during the 4th quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock worth $109,000 after purchasing an additional 1,443 shares in the last quarter. CWM LLC boosted its position in shares of CEMEX by 75.0% during the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Claro Advisors LLC boosted its position in shares of CEMEX by 6.9% during the 1st quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock worth $278,000 after purchasing an additional 1,998 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.