Caesarstone (CSTE) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Caesarstone (NASDAQ:CSTE) from a sell rating to a hold rating in a report issued on Friday.

Several other equities analysts have also recently commented on CSTE. Zacks Investment Research cut shares of Caesarstone from a hold rating to a sell rating in a report on Thursday, January 3rd. BidaskClub upgraded shares of Caesarstone from a hold rating to a buy rating in a report on Tuesday, November 20th. Finally, Credit Suisse Group set a $12.00 price target on shares of Caesarstone and gave the company a sell rating in a report on Friday, January 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $16.00.

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Caesarstone stock opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.73 and a current ratio of 3.15. Caesarstone has a 12 month low of $12.49 and a 12 month high of $21.80. The firm has a market cap of $585.99 million, a PE ratio of 23.63 and a beta of 1.84.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Wednesday, February 6th. The construction company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). Caesarstone had a net margin of 4.24% and a return on equity of 5.21%. The company had revenue of $142.88 million for the quarter, compared to analysts’ expectations of $141.16 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Caesarstone will post 0.67 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in Caesarstone by 10.4% in the fourth quarter. Legal & General Group Plc now owns 8,616 shares of the construction company’s stock worth $117,000 after purchasing an additional 813 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Caesarstone by 21.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,960 shares of the construction company’s stock worth $122,000 after purchasing an additional 1,600 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Caesarstone in the third quarter worth $214,000. Bank of America Corp DE boosted its holdings in Caesarstone by 37.1% in the fourth quarter. Bank of America Corp DE now owns 19,742 shares of the construction company’s stock worth $268,000 after purchasing an additional 5,338 shares in the last quarter. Finally, Hartford Investment Management Co. bought a new stake in Caesarstone in the third quarter worth $305,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

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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