Caesarstone (NASDAQ:CSTE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Caesarstone Stock Down 1.6 %

Shares of NASDAQ CSTE opened at $4.40 on Friday. Caesarstone has a 12-month low of $3.76 and a 12-month high of $6.81. The firm’s 50-day simple moving average is $4.38 and its 200 day simple moving average is $4.73. The company has a market cap of $151.94 million, a price-to-earnings ratio of -2.19 and a beta of 0.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Caesarstone by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after buying an additional 26,705 shares during the period. Barclays PLC boosted its holdings in Caesarstone by 87.5% in the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after acquiring an additional 20,271 shares during the last quarter. Jane Street Group LLC acquired a new stake in Caesarstone in the third quarter worth about $55,000. State Street Corp raised its holdings in Caesarstone by 1.6% during the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after purchasing an additional 2,640 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Caesarstone by 1,206.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after purchasing an additional 43,129 shares during the period. Institutional investors own 33.70% of the company’s stock.

About Caesarstone

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.