CEMEX (NYSE:CX) Stock Rating Upgraded by Royal Bank of Canada

CEMEX (NYSE:CX) was upgraded by Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage presently has a $6.50 price objective on the construction company’s stock, down from their prior price objective of $9.00. Royal Bank of Canada’s target price would suggest a potential upside of 10.45% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group assumed coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target on the stock. Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a report on Wednesday, July 31st. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $8.00 price objective on shares of CEMEX in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CEMEX presently has an average rating of “Moderate Buy” and an average target price of $8.28.

CEMEX Trading Down 0.6 %

Shares of CEMEX stock opened at $5.89 on Tuesday. The firm has a market capitalization of $8.53 billion, a PE ratio of 42.04 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $6.18 and its 200 day moving average is $6.99. CEMEX has a 1 year low of $5.50 and a 1 year high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The business had revenue of $4.49 billion for the quarter. Equities research analysts forecast that CEMEX will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC grew its position in shares of CEMEX by 6.9% during the 1st quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after acquiring an additional 1,358 shares during the period. Aprio Wealth Management LLC grew its stake in shares of CEMEX by 8.9% during the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock worth $158,000 after acquiring an additional 1,431 shares during the period. CWM LLC increased its holdings in CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after acquiring an additional 1,506 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in CEMEX by 6.3% during the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,600 shares during the period. Finally, Lesa Sroufe & Co increased its stake in shares of CEMEX by 0.4% in the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock worth $3,613,000 after purchasing an additional 1,731 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.