Caesarstone (NASDAQ:CSTE) Downgraded by StockNews.com

StockNews.com lowered shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research note released on Thursday.

Separately, Benchmark lowered their target price on Caesarstone from $8.00 to $6.00 and set a buy rating for the company in a research note on Thursday, August 8th.

Caesarstone Stock Performance

CSTE opened at $4.80 on Thursday. The company has a market cap of $165.74 million, a PE ratio of -1.51 and a beta of 0.13. The stock has a 50-day moving average of $5.13 and a 200-day moving average of $5.20. Caesarstone has a 52-week low of $3.50 and a 52-week high of $6.81.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Caesarstone had a negative return on equity of 8.21% and a negative net margin of 12.91%. The business had revenue of $119.43 million for the quarter, compared to analyst estimates of $123.85 million.

Institutional Investors Weigh In On Caesarstone

Institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in shares of Caesarstone in the 2nd quarter valued at $28,000. Acadian Asset Management LLC acquired a new stake in Caesarstone during the 2nd quarter worth about $106,000. Rhumbline Advisers acquired a new stake in Caesarstone during the 2nd quarter worth about $107,000. Marquette Asset Management LLC grew its holdings in Caesarstone by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 36,291 shares of the construction company’s stock worth $148,000 after acquiring an additional 6,006 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Caesarstone during the 2nd quarter worth about $293,000. 33.70% of the stock is currently owned by institutional investors.

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.