Caesarstone (NASDAQ:CSTE) Downgraded to “Strong Sell” Rating by Wall Street Zen

Caesarstone (NASDAQ:CSTE) was downgraded by Wall Street Zen to a “strong sell” rating in a report released on Friday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Caesarstone currently has a consensus rating of “Sell”.

Caesarstone Trading Up 12.1%

Shares of Caesarstone stock traded up $0.27 on Friday, hitting $2.50. 174,957 shares of the company traded hands, compared to its average volume of 92,004. The company has a market cap of $86.38 million, a PE ratio of -1.23 and a beta of -0.09. The stock’s 50 day moving average price is $1.71 and its 200-day moving average price is $1.57. Caesarstone has a 52 week low of $0.86 and a 52 week high of $4.67.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The firm had revenue of $102.11 million during the quarter, compared to the consensus estimate of $97.60 million. Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Simplex Trading LLC purchased a new stake in shares of Caesarstone during the 2nd quarter worth $26,000. Pitcairn Co. purchased a new position in Caesarstone in the second quarter valued at about $31,000. Quadrature Capital Ltd bought a new position in Caesarstone in the second quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone during the second quarter valued at about $56,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Caesarstone in the 3rd quarter valued at about $89,000. 33.70% of the stock is owned by institutional investors.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.