Caesarstone (NASDAQ:CSTE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Caesarstone (NASDAQ:CSTE) from a strong sell rating to a hold rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caesarstone in a research note on Thursday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Caesarstone presently has a consensus rating of “Sell”.

Caesarstone Trading Up 4.5%

Caesarstone stock opened at $2.30 on Friday. The company has a market capitalization of $79.51 million, a price-to-earnings ratio of -0.56 and a beta of 0.37. Caesarstone has a 12 month low of $0.56 and a 12 month high of $2.62. The stock’s 50 day moving average is $2.08 and its 200-day moving average is $1.75.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.16. Caesarstone had a negative return on equity of 32.36% and a negative net margin of 37.37%.The business had revenue of $96.55 million during the quarter, compared to analysts’ expectations of $102.50 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of Caesarstone during the 2nd quarter valued at $263,000. Citadel Advisors LLC boosted its stake in shares of Caesarstone by 163.7% during the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Caesarstone by 10.7% during the first quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock worth $62,000 after purchasing an additional 5,584 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone in the second quarter valued at approximately $56,000. Finally, Virtu Financial LLC bought a new position in Caesarstone in the 4th quarter valued at approximately $30,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.