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

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research note published on Wednesday morning.

Caesarstone Stock Performance

Caesarstone stock opened at $4.49 on Wednesday. The company’s fifty day moving average price is $4.38 and its 200 day moving average price is $4.78. The stock has a market capitalization of $155.05 million, a P/E ratio of -2.23 and a beta of 0.17. Caesarstone has a 1 year low of $3.55 and a 1 year high of $6.81.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in Caesarstone in the 3rd quarter worth about $55,000. Rhumbline Advisers acquired a new stake in shares of Caesarstone in the second quarter worth approximately $107,000. Acadian Asset Management LLC purchased a new stake in shares of Caesarstone during the second quarter worth approximately $106,000. Empowered Funds LLC acquired a new position in Caesarstone in the 3rd quarter valued at $164,000. Finally, Barclays PLC lifted its holdings in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after purchasing an additional 20,271 shares in the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.