Zacks Investment Research downgraded shares of Commercial Metals Company (NYSE:CMC) from a hold rating to a strong sell rating in a report published on Monday.

According to Zacks, “Commercial Metals Company has three segments – manufacturing, recycling, and marketing and trading. Activities are primarily concerned with metals related activities. The manufacturing segment is the dominant and most rapidly expanding segment in terms of assets employed, capital expenditures, operating profit and number of employees. The recycling segment is engaged in processing secondary, or scrap, metals for further recycling into new metal products. The marketing and trading segment buys and sells primary and secondary metals, and fabricated metals. “

Several other brokerages have also issued reports on CMC. Jefferies Group LLC reiterated a hold rating and issued a $19.00 price objective on shares of Commercial Metals in a research report on Wednesday, June 28th. Clarkson Capital reiterated a sell rating and issued a $16.00 price objective on shares of Commercial Metals in a research report on Tuesday, August 15th. Bank of America Corporation reaffirmed a neutral rating and set a $20.00 price target (up previously from $19.00) on shares of Commercial Metals in a research report on Sunday, June 25th. BidaskClub downgraded Commercial Metals from a hold rating to a sell rating in a research report on Tuesday, August 1st. Finally, Citigroup Inc. raised Commercial Metals from a neutral rating to a buy rating and upped their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, June 13th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Commercial Metals presently has an average rating of Hold and a consensus target price of $21.88.

Shares of Commercial Metals (NYSE:CMC) opened at 18.87 on Monday. Commercial Metals has a 52-week low of $14.57 and a 52-week high of $24.64. The stock has a 50 day moving average of $18.66 and a 200-day moving average of $18.87. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 29.17 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm earned $0.31 EPS. Commercial Metals’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Commercial Metals will post $0.90 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Commercial Metals by 67.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 2,142 shares during the last quarter. Elkfork Partners LLC raised its stake in shares of Commercial Metals by 13.6% during the 1st quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 660 shares in the last quarter. Point72 Asia Hong Kong Ltd raised its stake in shares of Commercial Metals by 367.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 5,182 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Commercial Metals by 56.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 2,492 shares in the last quarter. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Commercial Metals by 13.6% during the 1st quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 840 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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