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

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

Caesarstone Trading Down 2.9 %

NASDAQ CSTE opened at $4.42 on Wednesday. Caesarstone has a 12 month low of $3.69 and a 12 month high of $6.81. The stock has a 50 day moving average of $4.39 and a 200-day moving average of $4.78. The company has a market cap of $152.63 million, a PE ratio of -2.20 and a beta of 0.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Caesarstone in the 3rd quarter valued at about $55,000. Acadian Asset Management LLC acquired a new position in Caesarstone during the second quarter worth approximately $106,000. Rhumbline Advisers bought a new stake in Caesarstone in the second quarter valued at approximately $107,000. Empowered Funds LLC acquired a new stake in shares of Caesarstone in the third quarter valued at approximately $164,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after acquiring an additional 26,705 shares during the period. 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.