Caesarstone (NASDAQ:CSTE) Rating Increased to Strong-Buy at ValuEngine

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Caesarstone (NASDAQ:CSTE) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, ValuEngine reports.

Several other brokerages also recently issued reports on CSTE. BidaskClub downgraded shares of Caesarstone from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Zacks Investment Research downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus raised shares of Caesarstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $19.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.33.

Caesarstone stock traded up $0.35 during mid-day trading on Tuesday, reaching $15.41. The company’s stock had a trading volume of 6,468 shares, compared to its average volume of 117,756. The firm has a market cap of $514.55 million, a price-to-earnings ratio of 21.30 and a beta of 1.49. The business has a 50 day moving average price of $14.90 and a 200-day moving average price of $15.19. The company has a current ratio of 3.24, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Caesarstone has a twelve month low of $12.49 and a twelve month high of $21.80.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $141.07 million during the quarter, compared to the consensus estimate of $147.02 million. Caesarstone had a net margin of 3.20% and a return on equity of 3.80%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, equities analysts expect that Caesarstone will post 0.7 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Delek Group Ltd. boosted its holdings in shares of Caesarstone by 1.4% during the first quarter. Delek Group Ltd. now owns 1,890,409 shares of the construction company’s stock valued at $29,364,000 after acquiring an additional 25,892 shares during the period. BlackRock Inc. raised its stake in shares of Caesarstone by 3.4% during the second quarter. BlackRock Inc. now owns 1,709,509 shares of the construction company’s stock valued at $25,694,000 after purchasing an additional 55,886 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in shares of Caesarstone by 59.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 889,037 shares of the construction company’s stock valued at $13,362,000 after purchasing an additional 331,724 shares in the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of Caesarstone during the first quarter valued at about $10,861,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Caesarstone by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 653,597 shares of the construction company’s stock valued at $9,824,000 after purchasing an additional 1,810 shares in the last quarter. 45.59% of the stock is owned by institutional investors.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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