Caesarstone (NASDAQ:CSTE) Rating Increased to Buy at StockNews.com

Caesarstone (NASDAQ:CSTE - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

Caesarstone Trading Down 1.7 %

Shares of CSTE traded down $0.08 on Tuesday, reaching $4.70. The company's stock had a trading volume of 42,865 shares, compared to its average volume of 79,776. The stock has a market capitalization of $162.30 million, a PE ratio of -2.34 and a beta of 0.17. Caesarstone has a twelve month low of $3.55 and a twelve month high of $6.81. The firm has a fifty day moving average of $4.36 and a 200-day moving average of $4.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of Caesarstone during the 2nd quarter valued at approximately $293,000. Global Alpha Capital Management Ltd. boosted its position in shares of Caesarstone by 1.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company's stock valued at $13,768,000 after acquiring an additional 48,200 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Caesarstone by 1,206.4% in the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company's stock valued at $213,000 after acquiring an additional 43,129 shares during the last quarter. Empowered Funds LLC purchased a new stake in Caesarstone in the third quarter worth approximately $164,000. Finally, Acadian Asset Management LLC purchased a new stake in Caesarstone during the second quarter valued at about $106,000. Hedge funds and other institutional investors own 33.70% of the company's stock.

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.

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