Commercial Metals (CMC) Upgraded at Bank of America
Commercial Metals (NYSE:CMC) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday.
A number of other analysts have also commented on the company. Zacks Investment Research lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Citigroup reduced their target price on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Jefferies Group reduced their target price on Commercial Metals from $26.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 30th. Macquarie assumed coverage on Commercial Metals in a report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 target price for the company. Finally, Clarkson Capital restated a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a research note on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Commercial Metals presently has a consensus rating of “Hold” and an average price target of $21.50.
Shares of Commercial Metals (NYSE:CMC) opened at $20.02 on Thursday. The company has a market capitalization of $2,271.96, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.26. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $24.64. The company has a quick ratio of 1.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.58.
About Commercial Metals
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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