Caesarstone Ltd (NASDAQ:CSTE) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a report released on Tuesday.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 3rd. Stifel Nicolaus upgraded shares of Caesarstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $47.00 in a research report on Friday, March 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.80.
Caesarstone (NASDAQ:CSTE) traded up 0.069% during trading on Tuesday, reaching $36.125. 86,064 shares of the company’s stock were exchanged. Caesarstone has a 1-year low of $26.35 and a 1-year high of $43.50. The company’s 50-day moving average is $34.30 and its 200-day moving average is $32.42. The company has a market capitalization of $1.24 billion, a PE ratio of 17.368 and a beta of 1.88.
Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, February 8th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Caesarstone had a net margin of 13.90% and a return on equity of 17.98%. The company earned $135 million during the quarter, compared to the consensus estimate of $126.22 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Caesarstone will post $2.14 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eagle Global Advisors LLC increased its position in Caesarstone by 9.4% in the third quarter. Eagle Global Advisors LLC now owns 10,500 shares of the company’s stock worth $396,000 after buying an additional 900 shares in the last quarter. Joho Capital LLC increased its position in Caesarstone by 13.2% in the third quarter. Joho Capital LLC now owns 1,374,627 shares of the company’s stock worth $51,837,000 after buying an additional 160,000 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Caesarstone during the third quarter worth $133,000. DekaBank Deutsche Girozentrale acquired a new position in Caesarstone during the third quarter worth $994,000. Finally, New York State Common Retirement Fund increased its position in Caesarstone by 237.7% in the third quarter. New York State Common Retirement Fund now owns 82,390 shares of the company’s stock worth $3,107,000 after buying an additional 57,990 shares in the last quarter. Institutional investors and hedge funds own 60.17% of the company’s stock.
Caesarstone Company Profile
Caesarstone Ltd. is a manufacturer of engineered quartz surfaces. The Company’s engineered quartz surfaces are installed as countertops in residential kitchens. Its products are used as kitchen countertops in the renovation, remodeling and residential construction end markets. The other applications of its products include vanity tops, wall panels, back splashes, floor tiles, stairs, and other interior surfaces that are used in a range of residential and non-residential applications.
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