Caesarstone (NASDAQ:CSTE) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Caesarstone (NASDAQ:CSTE) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the construction company’s stock.

Caesarstone Stock Down 5.5 %

Shares of CSTE opened at $3.09 on Tuesday. The company has a market cap of $106.70 million, a PE ratio of -1.54 and a beta of 0.10. The business has a fifty day moving average of $4.10 and a 200 day moving average of $4.36. Caesarstone has a 52-week low of $3.05 and a 52-week high of $6.81.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $97.86 million during the quarter, compared to the consensus estimate of $99.40 million. Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. During the same quarter in the prior year, the business earned ($0.28) earnings per share.

Institutional Trading of Caesarstone

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Caesarstone by 1.6% during the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after purchasing an additional 2,640 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Caesarstone by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock worth $52,000 after purchasing an additional 2,647 shares during the last quarter. Barclays PLC lifted its position in shares of Caesarstone by 8.4% during the fourth quarter. Barclays PLC now owns 47,077 shares of the construction company’s stock worth $199,000 after purchasing an additional 3,632 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Caesarstone by 18.0% during the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock worth $157,000 after purchasing an additional 5,618 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Caesarstone during the fourth quarter worth $46,000. 33.70% of the stock is currently owned by institutional investors.

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.