CEMEX (NYSE:CX) Given New $6.00 Price Target at Royal Bank of Canada

CEMEX (NYSE:CX - Get Free Report) had its target price hoisted by Royal Bank of Canada from $5.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "underperform" rating on the construction company's stock. Royal Bank of Canada's target price would indicate a potential downside of 9.57% from the company's previous close.

Several other research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Scotiabank decreased their target price on CEMEX from $10.00 to $8.90 and set a "sector outperform" rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. downgraded CEMEX from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.82.

CEMEX Stock Performance

Shares of CX traded up $0.05 during trading hours on Monday, hitting $6.64. The stock had a trading volume of 4,235,603 shares, compared to its average volume of 10,010,246. The firm has a market capitalization of $9.61 billion, a PE ratio of 10.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. CEMEX has a 12 month low of $5.00 and a 12 month high of $9.27. The stock has a fifty day moving average price of $5.78 and a 200 day moving average price of $5.89.

CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.82% and a net margin of 5.70%. Analysts anticipate that CEMEX will post 0.76 EPS for the current year.

Institutional Trading of CEMEX

Several institutional investors have recently made changes to their positions in CX. IFP Advisors Inc boosted its stake in CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after purchasing an additional 3,062 shares during the period. Barclays PLC lifted its holdings in shares of CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after buying an additional 1,843 shares in the last quarter. Allworth Financial LP boosted its position in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company's stock worth $40,000 after acquiring an additional 1,747 shares during the last quarter. Franklin Resources Inc. purchased a new position in CEMEX during the fourth quarter valued at $63,000. Finally, Aureus Asset Management LLC bought a new stake in CEMEX in the 3rd quarter valued at $70,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.