CaesarStone Sdot-Yam Ltd. (CSTE) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “
CSTE has been the topic of a number of other reports. TheStreet lowered CaesarStone Sdot-Yam from a buy rating to a hold rating in a research report on Friday, September 9th. Credit Suisse Group AG restated an outperform rating and set a $47.00 price target on shares of CaesarStone Sdot-Yam in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $46.57.
Shares of CaesarStone Sdot-Yam (NASDAQ:CSTE) opened at 37.51 on Tuesday. The stock has a 50 day moving average price of $38.44 and a 200-day moving average price of $37.25. CaesarStone Sdot-Yam has a 1-year low of $27.31 and a 1-year high of $43.52. The company has a market cap of $1.31 billion, a P/E ratio of 17.53 and a beta of 2.03.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $142.30 million for the quarter, compared to analyst estimates of $139.53 million. CaesarStone Sdot-Yam had a return on equity of 19.69% and a net margin of 14.46%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Analysts predict that CaesarStone Sdot-Yam will post $2.58 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. purchased a new position in CaesarStone Sdot-Yam during the second quarter worth about $49,327,000. BlackRock Fund Advisors boosted its position in CaesarStone Sdot-Yam by 1,388.3% in the second quarter. BlackRock Fund Advisors now owns 666,707 shares of the company’s stock worth $23,175,000 after buying an additional 621,910 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in CaesarStone Sdot-Yam during the second quarter worth about $19,118,000. Point72 Asset Management L.P. purchased a new position in CaesarStone Sdot-Yam during the second quarter worth about $19,090,000. Finally, Joho Capital LLC boosted its position in CaesarStone Sdot-Yam by 71.8% in the second quarter. Joho Capital LLC now owns 1,214,627 shares of the company’s stock worth $42,220,000 after buying an additional 507,518 shares during the period. Hedge funds and other institutional investors own 63.75% of the company’s stock.
CaesarStone Sdot-Yam Company Profile
Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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