Caesarstone (NASDAQ:CSTE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a report issued on Tuesday morning.

Caesarstone Trading Down 1.7 %

NASDAQ:CSTE opened at $4.70 on Tuesday. The stock has a fifty day moving average price of $4.36 and a 200 day moving average price of $4.83. Caesarstone has a 12-month low of $3.55 and a 12-month high of $6.81. The firm has a market cap of $162.30 million, a PE ratio of -2.34 and a beta of 0.17.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Caesarstone by 87.5% during the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after purchasing an additional 20,271 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Caesarstone in the 3rd quarter valued at about $55,000. State Street Corp raised its position in shares of Caesarstone by 1.6% during the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after acquiring an additional 2,640 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Caesarstone by 1,206.4% in the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after purchasing an additional 43,129 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. increased 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 valued at $13,768,000 after purchasing an additional 48,200 shares during the last quarter. 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.