Commercial Metals (NYSE:CMC) Rating Lowered to Neutral at BNP Paribas

Commercial Metals (NYSE:CMC) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports.

A number of other brokerages have also recently commented on CMC. The Goldman Sachs Group began coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Morgan Stanley initiated coverage on Commercial Metals in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price target for the company. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, UBS Group reaffirmed a “sell” rating and issued a $56.00 target price (down from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $64.67.

Commercial Metals Price Performance

Shares of CMC stock opened at $48.89 on Friday. The business’s fifty day moving average is $57.06 and its 200 day moving average is $55.00. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19. Commercial Metals has a twelve month low of $47.42 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Research analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. Tectonic Advisors LLC grew its position in Commercial Metals by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock worth $977,000 after purchasing an additional 272 shares during the period. Assetmark Inc. grew its holdings in shares of Commercial Metals by 6.4% in the third quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 277 shares during the period. Inspire Investing LLC increased its position in Commercial Metals by 4.6% during the second quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 284 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Commercial Metals by 4.2% in the third quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company’s stock valued at $394,000 after acquiring an additional 287 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in Commercial Metals by 6.0% in the third quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.