Cemex (NYSE:CX) Rating Lowered to Strong Sell at Zacks Research

Cemex (NYSE:CX) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

A number of other analysts have also issued reports on CX. Wall Street Zen lowered Cemex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Citigroup upgraded shares of Cemex from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $13.70 to $12.00 in a report on Thursday, October 15th. Scotiabank raised their target price on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Finally, Barclays boosted their target price on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cemex currently has an average rating of “Moderate Buy” and a consensus price target of $13.94.

Cemex Trading Up 0.9%

Shares of CX opened at $10.21 on Thursday. Cemex has a fifty-two week low of $9.30 and a fifty-two week high of $13.67. The company has a market capitalization of $14.78 billion, a PE ratio of 30.02 and a beta of 1.51. The stock has a fifty day moving average of $10.26 and a two-hundred day moving average of $11.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92.

Cemex (NYSE:CX) last posted its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, analysts forecast that Cemex will post 0.89 EPS for the current year.

Insider Buying and Selling at Cemex

In other Cemex news, EVP Mauricio Doehner sold 927,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the completion of the sale, the executive vice president directly owned 584,930 shares in the company, valued at $5,597,780.10. The trade was a 61.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zambrano Lozano acquired 400,800 shares of the company’s stock in a transaction dated Friday, September 25th. The stock was acquired at an average cost of $17.28 per share, with a total value of $6,925,824.00. Following the transaction, the director directly owned 10,000,000 shares of the company’s stock, valued at approximately $172,800,000. This represents a 4.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cemex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its position in Cemex by 1,747.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock valued at $41,710,000 after acquiring an additional 3,448,600 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Cemex by 10.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 21,224,097 shares of the construction company’s stock worth $201,841,000 after purchasing an additional 1,951,012 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Cemex during the first quarter worth $13,425,000. Lazard Asset Management LLC boosted its stake in shares of Cemex by 14.4% in the first quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock valued at $46,292,000 after purchasing an additional 508,016 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Cemex by 31.8% in the first quarter. Bank of America Corp DE now owns 1,916,167 shares of the construction company’s stock valued at $21,921,000 after purchasing an additional 462,848 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Cemex

Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.

Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.