The Goldman Sachs Group Forecasts Strong Price Appreciation for CEMEX (NYSE:CX) Stock

CEMEX (NYSE:CX - Get Free Report) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $8.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's target price indicates a potential upside of 51.52% from the company's previous close.

Separately, Royal Bank of Canada upped their target price on CEMEX from $5.00 to $6.00 and gave the company an "underperform" rating in a report on Monday, February 10th. One 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.82.

CEMEX Trading Down 4.2 %

Shares of CEMEX stock traded down $0.26 on Thursday, hitting $5.94. The stock had a trading volume of 7,269,094 shares, compared to its average volume of 9,618,950. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. CEMEX has a one year low of $5.00 and a one year high of $9.27. The stock's 50-day simple moving average is $6.00 and its two-hundred day simple moving average is $5.91. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 9.43 and a beta of 1.49.

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CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings data 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 net margin of 5.70% and a return on equity of 7.78%. As a group, sell-side analysts predict that CEMEX will post 0.69 EPS for the current year.

Hedge Funds Weigh In On CEMEX

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its position in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC grew its holdings in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock valued at $38,000 after buying an additional 1,843 shares during the last quarter. Allworth Financial LP increased 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 valued at $40,000 after acquiring an additional 1,747 shares in the last quarter. Townsquare Capital LLC purchased a new position in CEMEX in the 4th quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP bought a new position in CEMEX in the 4th quarter valued at approximately $59,000. 82.97% of the stock is currently owned by institutional investors.

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.