CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “

Several other research firms have also recently weighed in on CSTE. TheStreet cut CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research report on Friday, September 9th. Credit Suisse Group AG reiterated an “outperform” rating and set a $47.00 price objective on shares of CaesarStone Sdot-Yam in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. CaesarStone Sdot-Yam presently has an average rating of “Hold” and a consensus target price of $46.57.

Shares of CaesarStone Sdot-Yam (NASDAQ:CSTE) traded down 0.42% during mid-day trading on Tuesday, reaching $37.51. The company’s stock had a trading volume of 99,899 shares. CaesarStone Sdot-Yam has a 12 month low of $27.31 and a 12 month high of $43.52. The firm has a market cap of $1.31 billion, a PE ratio of 17.53 and a beta of 2.03. The company has a 50-day moving average of $38.47 and a 200-day moving average of $37.25.

CaesarStone Sdot-Yam (NASDAQ:CSTE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm had revenue of $142.30 million for the quarter, compared to analysts’ expectations of $139.53 million. CaesarStone Sdot-Yam had a return on equity of 19.69% and a net margin of 14.46%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, analysts predict that CaesarStone Sdot-Yam will post $2.58 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Societe Generale acquired a new stake in CaesarStone Sdot-Yam during the second quarter valued at $108,000. SG Americas Securities LLC acquired a new stake in CaesarStone Sdot-Yam during the second quarter valued at $108,000. Quantbot Technologies LP acquired a new stake in CaesarStone Sdot-Yam during the second quarter valued at $138,000. BlackRock Inc. raised its stake in CaesarStone Sdot-Yam by 22,908.0% in the second quarter. BlackRock Inc. now owns 5,752 shares of the company’s stock valued at $200,000 after buying an additional 5,727 shares during the period. Finally, Alpine Partners VI LLC acquired a new stake in CaesarStone Sdot-Yam during the first quarter valued at $227,000. Institutional investors own 63.75% of the company’s stock.

About CaesarStone Sdot-Yam

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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