Caesarstone (NASDAQ:CSTE) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Caesarstone (NASDAQ:CSTE) in a report issued on Monday morning. The firm issued a hold rating on the construction company’s stock.

Caesarstone Stock Performance

NASDAQ:CSTE opened at $3.42 on Monday. The stock has a 50-day simple moving average of $4.16 and a 200 day simple moving average of $4.38. Caesarstone has a one year low of $3.40 and a one year high of $6.81. The company has a market capitalization of $118.10 million, a price-to-earnings ratio of -1.70 and a beta of 0.17.

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

Hedge Funds Weigh In On Caesarstone

A number of large investors have recently bought and sold shares of CSTE. Empowered Funds LLC bought a new position in Caesarstone in the third quarter worth about $164,000. Global Alpha Capital Management Ltd. raised its holdings in shares of Caesarstone by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after buying an additional 48,200 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Caesarstone by 1,206.4% during the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after buying an additional 43,129 shares during the last quarter. State Street Corp raised its holdings in shares of Caesarstone by 1.6% during the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after buying an additional 2,640 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Caesarstone during the third quarter valued at approximately $55,000. Institutional investors 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.