Caesarstone (NASDAQ:CSTE) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE) in a report issued on Tuesday. The brokerage issued a hold rating on the construction company’s stock.

Caesarstone Price Performance

CSTE stock opened at $3.22 on Tuesday. The company has a market capitalization of $111.25 million, a PE ratio of -1.60 and a beta of 0.10. Caesarstone has a 12 month low of $3.05 and a 12 month high of $6.81. The firm’s 50-day moving average is $4.05 and its 200 day moving average is $4.34.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $99.40 million. Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. During the same period in the prior year, the business earned ($0.28) EPS.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSTE. State Street Corp increased its position in Caesarstone by 1.6% during the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the period. Wells Fargo & Company MN increased its position in Caesarstone by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock valued at $52,000 after purchasing an additional 2,647 shares during the period. Barclays PLC increased its position in Caesarstone by 8.4% during the 4th quarter. Barclays PLC now owns 47,077 shares of the construction company’s stock valued at $199,000 after purchasing an additional 3,632 shares during the period. Bank of America Corp DE increased its position in Caesarstone by 18.0% during the 4th quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock valued at $157,000 after purchasing an additional 5,618 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in Caesarstone during the 4th quarter valued at about $46,000. Hedge funds and other 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.