CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) shares traded down 2.4% during mid-day trading on Monday . The company traded as low as $40.95 and last traded at $41.03, with a volume of 138,443 shares trading hands. The stock had previously closed at $42.05.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised CaesarStone Sdot-Yam from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Friday. Stifel Nicolaus raised their target price on CaesarStone Sdot-Yam from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Barclays PLC raised their target price on CaesarStone Sdot-Yam from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 5th. Credit Suisse Group AG reissued a “buy” rating on shares of CaesarStone Sdot-Yam in a research note on Tuesday, May 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of CaesarStone Sdot-Yam in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. CaesarStone Sdot-Yam currently has an average rating of “Buy” and a consensus price target of $46.57.

The firm’s 50 day moving average is $36.20 and its 200-day moving average is $36.35. The stock has a market cap of $1.43 billion and a price-to-earnings ratio of 19.17.

CaesarStone Sdot-Yam (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The company earned $142.30 million during the quarter, compared to analysts’ expectations of $139.53 million. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts anticipate that CaesarStone Sdot-Yam Ltd. will post $2.58 earnings per share for the current year.

A hedge fund recently raised its stake in CaesarStone Sdot-Yam stock. State of New Jersey Common Pension Fund D increased its stake in CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) by 318.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,000 shares of the company’s stock after buying an additional 70,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.26% of CaesarStone Sdot-Yam worth $3,987,000 at the end of the most recent quarter.

Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

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