Caesarstone Ltd (NASDAQ:CSTE) has received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $31.25.
A number of brokerages have recently issued reports on CSTE. JPMorgan Chase & Co. downgraded Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price target on the stock. in a report on Thursday, November 2nd. Chardan Capital reaffirmed a “neutral” rating and set a $32.00 price target (down from $43.00) on shares of Caesarstone in a report on Tuesday, November 7th. Zacks Investment Research downgraded Caesarstone from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. BidaskClub raised Caesarstone from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, Credit Suisse Group downgraded Caesarstone from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $28.00 to $21.00 in a report on Monday, January 22nd.
Several large investors have recently made changes to their positions in the company. Meitav Dash Investments Ltd. bought a new position in shares of Caesarstone during the fourth quarter valued at $13,703,000. Jane Street Group LLC bought a new position in shares of Caesarstone during the fourth quarter valued at $328,000. Millennium Management LLC lifted its holdings in shares of Caesarstone by 12.0% during the fourth quarter. Millennium Management LLC now owns 109,860 shares of the construction company’s stock valued at $2,417,000 after purchasing an additional 11,752 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Caesarstone by 5.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 154,861 shares of the construction company’s stock valued at $3,407,000 after purchasing an additional 7,656 shares in the last quarter. Finally, HBK Investments L P lifted its holdings in shares of Caesarstone by 69.1% during the fourth quarter. HBK Investments L P now owns 11,840 shares of the construction company’s stock valued at $260,000 after purchasing an additional 4,840 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caesarstone (CSTE) opened at $22.05 on Tuesday. Caesarstone has a 12 month low of $19.55 and a 12 month high of $44.00. The company has a market capitalization of $757.17, a price-to-earnings ratio of 19.86 and a beta of 1.88. The company has a quick ratio of 1.92, a current ratio of 2.97 and a debt-to-equity ratio of 0.02.
Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, February 7th. The construction company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Caesarstone had a return on equity of 8.50% and a net margin of 4.52%. The company had revenue of $148.14 million during the quarter, compared to analysts’ expectations of $144.97 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. equities research analysts anticipate that Caesarstone will post 1.36 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, February 20th.
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Caesarstone Company Profile
Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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