The Goldman Sachs Group Increases CEMEX (NYSE:CX) Price Target to $9.00

CEMEX (NYSE:CX) had its target price increased by equities research analysts at The Goldman Sachs Group from $8.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 40.73% from the stock’s previous close.

Separately, Royal Bank of Canada raised their price target on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.82.

CEMEX Trading Down 1.0 %

Shares of CEMEX stock traded down $0.07 during mid-day trading on Thursday, hitting $6.40. 2,273,256 shares of the stock were exchanged, compared to its average volume of 9,465,936. The company has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $5.91. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 10.15 and a beta of 1.49. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Research analysts forecast that CEMEX will post 0.69 EPS for the current year.

Hedge Funds Weigh In On CEMEX

Hedge funds have recently made changes to their positions in the business. Dodge & Cox lifted its position in CEMEX by 7,200.6% during the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock worth $279,868,000 after acquiring an additional 48,942,309 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of CEMEX during the 3rd quarter valued at approximately $190,346,000. Schroder Investment Management Group lifted its position in shares of CEMEX by 745.6% in the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock worth $150,809,000 after buying an additional 23,576,914 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in CEMEX in the fourth quarter valued at approximately $86,056,000. Finally, JPMorgan Chase & Co. boosted its position in CEMEX by 123.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after purchasing an additional 7,986,204 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.