Caesarstone (NASDAQ:CSTE) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research report released on Monday morning.

Separately, Benchmark reduced their price objective on Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Caesarstone Stock Performance

Shares of CSTE opened at $4.22 on Monday. Caesarstone has a 52-week low of $3.50 and a 52-week high of $6.81. The firm has a market cap of $145.72 million, a price-to-earnings ratio of -2.10 and a beta of 0.14. The business’s fifty day moving average is $4.35 and its 200-day moving average is $4.98.

Institutional Trading of Caesarstone

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in Caesarstone in the second quarter valued at about $293,000. Rhumbline Advisers bought a new position in Caesarstone in the second quarter valued at about $107,000. Acadian Asset Management LLC bought a new position in Caesarstone in the second quarter valued at about $106,000. Gladius Capital Management LP bought a new position in Caesarstone in the second quarter valued at about $28,000. Finally, Global Alpha Capital Management Ltd. raised its position in Caesarstone by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after purchasing an additional 48,200 shares during the last quarter. 33.70% of the stock is owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.