Caesarstone (NASDAQ:CSTE) Lowered to Hold Rating by StockNews.com

Caesarstone (NASDAQ:CSTE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, Benchmark reduced their price objective on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

Caesarstone Trading Up 0.7 %

Shares of NASDAQ CSTE opened at $4.25 on Monday. Caesarstone has a one year low of $3.50 and a one year high of $6.81. The business has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $4.98. The firm has a market capitalization of $146.75 million, a price-to-earnings ratio of -2.10 and a beta of 0.14.

Institutional Trading of Caesarstone

A number of large investors have recently bought and sold shares of CSTE. Bank of New York Mellon Corp bought a new stake in Caesarstone during the second quarter worth about $293,000. Rhumbline Advisers bought a new stake in Caesarstone during the 2nd quarter worth approximately $107,000. Acadian Asset Management LLC acquired a new stake in Caesarstone during the 2nd quarter valued at $106,000. Gladius Capital Management LP bought a new position in Caesarstone in the 2nd quarter valued at $28,000. Finally, Global Alpha Capital Management Ltd. boosted its stake in Caesarstone by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after purchasing an additional 48,200 shares in the last quarter. 33.70% of the stock is currently owned by institutional investors.

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.