Caesarstone (NASDAQ:CSTE) Cut to “Hold” at StockNews.com

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

Caesarstone Stock Up 1.6 %

Shares of Caesarstone stock opened at $4.49 on Wednesday. The stock has a market cap of $155.05 million, a price-to-earnings ratio of -2.23 and a beta of 0.17. Caesarstone has a twelve month low of $3.55 and a twelve month high of $6.81. The company’s fifty day moving average is $4.38 and its 200 day moving average is $4.78.

Institutional Trading of Caesarstone

Several institutional investors have recently added to or reduced their stakes in CSTE. Empowered Funds LLC acquired a new position in shares of Caesarstone in the 3rd quarter worth approximately $164,000. BNP Paribas Financial Markets raised its stake in Caesarstone by 1,206.4% during the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after buying an additional 43,129 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Caesarstone in the second quarter valued at $293,000. Rhumbline Advisers bought a new stake in Caesarstone during the second quarter valued at $107,000. Finally, Acadian Asset Management LLC acquired a new stake in Caesarstone during the 2nd quarter worth about $106,000. 33.70% of the stock is currently owned by institutional investors.

Caesarstone Company Profile

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.