CEMEX (NYSE:CX) Given New $10.00 Price Target at The Goldman Sachs Group

CEMEX (NYSE:CX) had its price objective raised by The Goldman Sachs Group from $9.00 to $10.00 in a report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other research analysts have also recently weighed in on the company. Barclays cut CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective on the stock. in a research report on Friday, February 9th. StockNews.com cut CEMEX from a strong-buy rating to a buy rating in a research report on Friday, February 9th. Finally, Bank of America cut CEMEX from a buy rating to a neutral rating and set a $9.00 price objective on the stock. in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CEMEX currently has an average rating of Moderate Buy and an average target price of $9.53.

CEMEX Trading Up 1.1 %

Shares of CEMEX stock opened at $8.27 on Friday. The business has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $7.63. CEMEX has a 1 year low of $5.67 and a 1 year high of $9.27. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 59.07, a P/E/G ratio of 0.17 and a beta of 1.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.74 and a quick ratio of 0.47.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The firm had revenue of $4.24 billion for the quarter. CEMEX had a return on equity of 1.81% and a net margin of 1.28%. Research analysts forecast that CEMEX will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CX. Acadian Asset Management LLC increased its position in shares of CEMEX by 41.4% in the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after purchasing an additional 5,542,723 shares during the period. AQR Capital Management LLC boosted its stake in CEMEX by 35.5% in the third quarter. AQR Capital Management LLC now owns 9,684,043 shares of the construction company’s stock valued at $62,946,000 after buying an additional 2,535,112 shares in the last quarter. Sei Investments Co. boosted its stake in CEMEX by 146.8% in the third quarter. Sei Investments Co. now owns 3,010,503 shares of the construction company’s stock valued at $19,568,000 after buying an additional 1,790,588 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in CEMEX by 701.6% in the third quarter. Qube Research & Technologies Ltd now owns 1,848,325 shares of the construction company’s stock valued at $12,014,000 after buying an additional 1,617,750 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock valued at $161,462,000 after buying an additional 1,521,007 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

About CEMEX

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.