Brokerages Set Constellium SE (NYSE:CSTM) Target Price at $29.00

Constellium SE (NYSE:CSTM) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

Several equities analysts have recently commented on CSTM shares. Weiss Ratings restated a “hold (c)” rating on shares of Constellium in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Constellium from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Zacks Research raised shares of Constellium from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. BMO Capital Markets boosted their price objective on shares of Constellium from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company raised their target price on Constellium from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 19th.

Insiders Place Their Bets

In other Constellium news, CEO Ingrid Joerg sold 4,614 shares of Constellium stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total value of $119,364.18. Following the transaction, the chief executive officer owned 378,090 shares in the company, valued at $9,781,188.30. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philippe Hoffmann sold 4,728 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total transaction of $122,313.36. Following the completion of the transaction, the insider directly owned 182,120 shares of the company’s stock, valued at $4,711,444.40. This trade represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 214,543 shares of company stock valued at $5,565,129 over the last ninety days.

Hedge Funds Weigh In On Constellium

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSTM. Royal Bank of Canada increased its holdings in shares of Constellium by 5.3% during the first quarter. Royal Bank of Canada now owns 72,526 shares of the industrial products company’s stock worth $732,000 after buying an additional 3,629 shares in the last quarter. AQR Capital Management LLC grew its position in Constellium by 354.0% during the 1st quarter. AQR Capital Management LLC now owns 91,566 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 71,396 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Constellium by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,021 shares of the industrial products company’s stock worth $777,000 after purchasing an additional 3,393 shares in the last quarter. Geode Capital Management LLC increased its holdings in Constellium by 14.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,730,112 shares of the industrial products company’s stock worth $23,008,000 after purchasing an additional 214,987 shares in the last quarter. Finally, Swiss National Bank bought a new position in Constellium in the second quarter valued at about $3,268,000. Institutional investors own 92.59% of the company’s stock.

Constellium Stock Performance

CSTM opened at $24.46 on Friday. The firm has a market cap of $3.30 billion, a P/E ratio of 12.67 and a beta of 1.48. Constellium has a 52-week low of $7.32 and a 52-week high of $27.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.51 and a current ratio of 1.29. The business’s fifty day moving average is $24.41 and its 200-day moving average is $19.68.

Constellium (NYSE:CSTM) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.44. Constellium had a return on equity of 32.14% and a net margin of 3.23%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. Constellium’s revenue for the quarter was up 27.9% compared to the same quarter last year. Sell-side analysts expect that Constellium will post 1.1 EPS for the current fiscal year.

Constellium declared that its board has approved a share repurchase program on Thursday, March 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the industrial products company to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.