Commercial Metals (NYSE:CMC) Price Target Lowered to $62.00 at Jefferies Financial Group

Commercial Metals (NYSE:CMC) had its target price lowered by equities researchers at Jefferies Financial Group from $65.00 to $62.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 26.82% from the stock’s previous close.

Other analysts also recently issued reports about the company. BMO Capital Markets decreased their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Morgan Stanley initiated coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target for the company. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.17.

Commercial Metals Stock Performance

NYSE CMC opened at $48.89 on Monday. The company has a fifty day moving average price of $57.06 and a 200-day moving average price of $55.03. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 1 year low of $47.42 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS. As a group, equities research analysts predict that Commercial Metals will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of Commercial Metals during the third quarter worth $66,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. KBC Group NV lifted its holdings in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares in the last quarter. Highland Capital Management LLC bought a new position in Commercial Metals in the 3rd quarter worth about $206,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Commercial Metals by 29.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 870 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.