StockNews.com Downgrades Caesarstone (NASDAQ:CSTE) to Hold

StockNews.com cut shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research note published on Monday morning.

Separately, Benchmark dropped their target price on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Caesarstone Trading Down 0.2 %

NASDAQ CSTE opened at $4.24 on Monday. Caesarstone has a 12 month low of $3.50 and a 12 month high of $6.81. The stock has a market cap of $146.42 million, a PE ratio of -2.11 and a beta of 0.14. The stock’s 50 day moving average is $4.33 and its 200 day moving average is $4.96.

Institutional Trading of Caesarstone

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Caesarstone in the second quarter valued at $293,000. Global Alpha Capital Management Ltd. lifted its position in Caesarstone by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after purchasing an additional 48,200 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Caesarstone by 1,206.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after buying an additional 43,129 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Caesarstone in the 3rd quarter worth about $164,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Caesarstone during the 2nd quarter valued at about $106,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.