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.

Several hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Commercial Metals during the third quarter valued at $295,000. Walthausen & Co. LLC lifted its position in Commercial Metals by 10.8% during the third quarter. Walthausen & Co. LLC now owns 346,160 shares of the basic materials company’s stock valued at $6,587,000 after purchasing an additional 33,610 shares in the last quarter. California Public Employees Retirement System lifted its position in Commercial Metals by 4.5% during the third quarter. California Public Employees Retirement System now owns 271,123 shares of the basic materials company’s stock valued at $5,159,000 after purchasing an additional 11,723 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Commercial Metals by 375.7% during the third quarter. Point72 Asset Management L.P. now owns 460,000 shares of the basic materials company’s stock valued at $8,754,000 after purchasing an additional 363,300 shares in the last quarter. Finally, 3G Capital Partners LP purchased a new position in Commercial Metals during the third quarter valued at $9,515,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.

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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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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