Caesarstone (NASDAQ:CSTE) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a report released on Tuesday morning.

Separately, Benchmark dropped their price objective on Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Caesarstone Stock Performance

Shares of CSTE stock opened at $4.08 on Tuesday. Caesarstone has a 52-week low of $3.50 and a 52-week high of $6.81. The stock has a market cap of $140.89 million, a price-to-earnings ratio of -2.03 and a beta of 0.14. The firm’s 50-day moving average is $4.43 and its 200-day moving average is $5.09.

Institutional Trading of Caesarstone

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in Caesarstone in the 2nd quarter valued at about $293,000. Rhumbline Advisers acquired a new position in shares of Caesarstone in the second quarter valued at approximately $107,000. Acadian Asset Management LLC bought a new position in shares of Caesarstone during the second quarter worth approximately $106,000. Gladius Capital Management LP acquired a new stake in Caesarstone during the 2nd quarter worth approximately $28,000. Finally, Jane Street Group LLC acquired a new stake in Caesarstone during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds 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.