Caesarstone (NASDAQ:CSTE) Rating Increased to Buy at StockNews.com

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

Caesarstone Price Performance

Shares of CSTE stock opened at $4.25 on Tuesday. The stock’s fifty day simple moving average is $4.38 and its 200 day simple moving average is $4.69. Caesarstone has a one year low of $3.76 and a one year high of $6.81. The firm has a market cap of $146.76 million, a price-to-earnings ratio of -2.11 and a beta of 0.18.

Institutional Trading of Caesarstone

Several large investors have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. boosted its holdings in shares of Caesarstone by 1.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after acquiring an additional 48,200 shares in the last quarter. State Street Corp boosted its stake in Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after purchasing an additional 2,640 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Caesarstone during the second quarter worth $293,000. BNP Paribas Financial Markets raised its holdings in shares of Caesarstone by 1,206.4% in the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after buying an additional 43,129 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Caesarstone by 87.5% in the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after buying an additional 20,271 shares during the last quarter. 33.70% of the stock is 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.