Analyst IMS Investment Management Services Ltd. decreased its holdings in Caesarstone Ltd (NASDAQ:CSTE) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,012 shares of the construction company’s stock after selling 4,418 shares during the quarter. Caesarstone accounts for approximately 1.4% of Analyst IMS Investment Management Services Ltd.’s investment portfolio, making the stock its 14th biggest holding. Analyst IMS Investment Management Services Ltd. owned 0.64% of Caesarstone worth $4,323,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CSTE. First Mercantile Trust Co. lifted its position in Caesarstone by 93.1% in the 1st quarter. First Mercantile Trust Co. now owns 8,951 shares of the construction company’s stock valued at $176,000 after acquiring an additional 4,316 shares in the last quarter. Guggenheim Capital LLC bought a new position in Caesarstone in the 4th quarter valued at about $239,000. HBK Investments L P lifted its position in Caesarstone by 69.1% in the 4th quarter. HBK Investments L P now owns 11,840 shares of the construction company’s stock valued at $260,000 after acquiring an additional 4,840 shares in the last quarter. Capital Fund Management S.A. bought a new position in Caesarstone in the 4th quarter valued at about $290,000. Finally, Lapides Asset Management LLC bought a new position in Caesarstone in the 4th quarter valued at about $308,000. 52.78% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CSTE opened at $15.35 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 2.96 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $520.38 million, a price-to-earnings ratio of 11.54 and a beta of 1.77. Caesarstone Ltd has a 52 week low of $12.50 and a 52 week high of $39.85.
Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data on Wednesday, May 9th. The construction company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.08). The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $141.41 million. Caesarstone had a net margin of 2.89% and a return on equity of 6.40%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. equities analysts forecast that Caesarstone Ltd will post 0.81 earnings per share for the current year.
CSTE has been the topic of several recent research reports. Credit Suisse Group raised shares of Caesarstone to a “hold” rating and set a $21.00 price target on the stock in a research report on Wednesday, February 7th. Stifel Nicolaus cut shares of Caesarstone from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Zacks Investment Research upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. BidaskClub upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research note on Friday, April 6th. Finally, ValuEngine lowered shares of Caesarstone from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Sell” and an average target price of $29.00.
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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