Analysts at StockNews.com started coverage on shares of Caesarstone (NASDAQ:CSTE - Get Free Report) in a research note issued to investors on Tuesday. The firm set a "hold" rating on the construction company's stock.
Caesarstone Price Performance
Shares of NASDAQ CSTE traded up $0.13 on Tuesday, hitting $3.22. The company's stock had a trading volume of 127,128 shares, compared to its average volume of 38,279. Caesarstone has a 12-month low of $3.05 and a 12-month high of $6.81. The company has a market capitalization of $111.25 million, a price-to-earnings ratio of -1.60 and a beta of 0.10. The stock has a 50 day moving average of $4.05 and a 200-day moving average of $4.34.
Caesarstone (NASDAQ:CSTE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. The business had revenue of $97.86 million during the quarter, compared to analysts' expectations of $99.40 million. During the same period last year, the company earned ($0.28) EPS.
Hedge Funds Weigh In On Caesarstone
A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Caesarstone by 18.0% in the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company's stock valued at $157,000 after buying an additional 5,618 shares during the last quarter. Northern Trust Corp raised its position in shares of Caesarstone by 100.6% in the fourth quarter. Northern Trust Corp now owns 287,067 shares of the construction company's stock valued at $1,220,000 after buying an additional 143,963 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Caesarstone during the fourth quarter worth approximately $46,000. RBF Capital LLC increased its position in Caesarstone by 3.8% during the fourth quarter. RBF Capital LLC now owns 388,107 shares of the construction company's stock worth $1,658,000 after purchasing an additional 14,214 shares during the last quarter. Finally, Barclays PLC increased its position in Caesarstone by 8.4% during the fourth quarter. Barclays PLC now owns 47,077 shares of the construction company's stock worth $199,000 after purchasing an additional 3,632 shares during the last quarter. Institutional investors and hedge funds own 33.70% of the company's stock.
Caesarstone Company Profile
(
Get Free Report)
Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.
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