StockNews.com Begins Coverage on Caesarstone (NASDAQ:CSTE)

Equities research analysts at StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE - Get Free Report) in a note issued to investors on Monday. The firm set a "hold" rating on the construction company's stock.

Caesarstone Price Performance

NASDAQ:CSTE traded down $0.06 during trading hours on Monday, hitting $3.36. The company's stock had a trading volume of 52,034 shares, compared to its average volume of 34,794. Caesarstone has a twelve month low of $3.30 and a twelve month high of $6.81. The stock has a fifty day simple moving average of $4.14 and a 200-day simple moving average of $4.38. The company has a market capitalization of $116.03 million, a P/E ratio of -1.67 and a beta of 0.17.

Caesarstone (NASDAQ:CSTE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $97.86 million during the quarter, compared to analyst estimates of $99.40 million. Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. During the same quarter in the previous year, the business posted ($0.28) earnings per share.

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Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in Caesarstone in the 4th quarter worth about $46,000. Wells Fargo & Company MN grew its holdings in shares of Caesarstone by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company's stock worth $52,000 after purchasing an additional 2,647 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Caesarstone in the third quarter valued at approximately $55,000. Bank of America Corp DE raised its holdings in Caesarstone by 18.0% in the 4th 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. Finally, Empowered Funds LLC bought a new position in Caesarstone in the 3rd quarter valued at approximately $164,000. 33.70% of the stock is currently owned by institutional investors.

Caesarstone Company Profile

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.