StockNews.com Downgrades Caesarstone (NASDAQ:CSTE) to Hold

Caesarstone (NASDAQ:CSTE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Caesarstone Trading Down 3.6 %

Shares of CSTE opened at $4.31 on Wednesday. Caesarstone has a 12 month low of $3.76 and a 12 month high of $6.81. The stock has a fifty day moving average price of $4.45 and a 200-day moving average price of $4.58. The firm has a market cap of $148.82 million, a PE ratio of -2.14 and a beta of 0.17.

Institutional Trading of Caesarstone

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Alpha Capital Management Ltd. raised its stake in Caesarstone by 1.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after acquiring an additional 48,200 shares during the last quarter. State Street Corp raised its stake in Caesarstone by 1.6% in 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 during the last quarter. BNP Paribas Financial Markets raised its stake in Caesarstone by 1,206.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after acquiring an additional 43,129 shares during the last quarter. Barclays PLC raised its stake in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after acquiring an additional 20,271 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Caesarstone by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after acquiring an additional 26,705 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.