CEMEX (NYSE:CX) Price Target Raised to $10.00

CEMEX (NYSE:CX) had its price objective boosted by The Goldman Sachs Group from $9.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 21.07% from the company’s current price.

Several other equities research analysts also recently issued reports on CX. Bank of America downgraded CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Wednesday. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. Finally, Barclays downgraded CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price target for the company. in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.53.

CEMEX Trading Up 1.0 %

Shares of CX traded up $0.08 during trading hours on Friday, hitting $8.26. 2,046,199 shares of the stock traded hands, compared to its average volume of 6,662,587. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. CEMEX has a 1-year low of $5.67 and a 1-year high of $9.27. The firm has a market capitalization of $11.97 billion, a PE ratio of 68.83, a price-to-earnings-growth ratio of 0.16 and a beta of 1.47. The business has a fifty day moving average of $8.31 and a 200-day moving average of $7.61.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. The company had revenue of $4.24 billion during the quarter. Analysts expect that CEMEX will post 0.88 EPS for the current year.

Institutional Trading of CEMEX

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its holdings in shares of CEMEX by 41.4% in the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after acquiring an additional 5,542,723 shares during the period. AQR Capital Management LLC raised its position in CEMEX by 35.5% during the third quarter. AQR Capital Management LLC now owns 9,684,043 shares of the construction company’s stock valued at $62,946,000 after purchasing an additional 2,535,112 shares in the last quarter. Sei Investments Co. increased its holdings in shares of CEMEX by 146.8% in the third quarter. Sei Investments Co. now owns 3,010,503 shares of the construction company’s stock worth $19,568,000 after buying an additional 1,790,588 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of CEMEX by 701.6% in the third quarter. Qube Research & Technologies Ltd now owns 1,848,325 shares of the construction company’s stock worth $12,014,000 after buying an additional 1,617,750 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after buying an additional 1,521,007 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.