CEMEX (NYSE:CX) Price Target Raised to $9.00 at The Goldman Sachs Group

CEMEX (NYSE:CX) had its price target raised by The Goldman Sachs Group from $8.00 to $9.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Separately, Royal Bank of Canada raised their price objective on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.82.

CEMEX Stock Down 2.4 %

Shares of NYSE:CX opened at $6.31 on Thursday. The firm has a 50 day simple moving average of $5.97 and a 200 day simple moving average of $5.91. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market cap of $9.14 billion, a PE ratio of 10.01 and a beta of 1.49.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. As a group, research analysts expect that CEMEX will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On CEMEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CX. JPMorgan Chase & Co. grew its position in CEMEX by 123.7% in the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after acquiring an additional 7,986,204 shares in the last quarter. GFS Advisors LLC boosted its holdings in CEMEX by 1,505.0% in the third quarter. GFS Advisors LLC now owns 166,427 shares of the construction company’s stock worth $1,015,000 after purchasing an additional 156,058 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in CEMEX by 8.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock worth $60,327,000 after purchasing an additional 807,394 shares in the last quarter. Loomis Sayles & Co. L P increased its position in CEMEX by 63.2% during the third quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock worth $32,927,000 after buying an additional 2,090,688 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in CEMEX by 46.5% during the third quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock valued at $319,000 after buying an additional 16,585 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.