UBS Group Cuts Commercial Metals (NYSE:CMC) Price Target to $49.00

Commercial Metals (NYSE:CMC - Get Free Report) had its target price cut by analysts at UBS Group from $54.00 to $49.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. UBS Group's price objective suggests a potential upside of 5.54% from the company's previous close.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group started coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective on the stock. BMO Capital Markets dropped their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Jefferies Financial Group cut their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $60.33.

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Commercial Metals Trading Down 4.0 %

Shares of NYSE CMC traded down $1.95 during midday trading on Monday, hitting $46.43. The stock had a trading volume of 182,288 shares, compared to its average volume of 1,216,150. The firm has a market cap of $5.28 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The company's 50-day simple moving average is $48.75 and its 200 day simple moving average is $52.68.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Research analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Institutional Trading of Commercial Metals

Several hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new stake in shares of Commercial Metals during the fourth quarter worth $33,000. Heck Capital Advisors LLC bought a new position in Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC increased its holdings in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.