CaesarStone Sdot-Yam Ltd. (CSTE) Receives $44.80 Consensus Target Price from Analysts
CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) has been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the stock. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $44.80.
Several brokerages have recently weighed in on CSTE. Zacks Investment Research cut CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. TheStreet cut CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research note on Friday, September 9th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $47.00 price target on shares of CaesarStone Sdot-Yam in a research note on Wednesday, June 29th.
A number of large investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. acquired a new stake in CaesarStone Sdot-Yam during the second quarter valued at approximately $49,327,000. Joho Capital LLC boosted its stake in shares of CaesarStone Sdot-Yam by 71.8% in the second quarter. Joho Capital LLC now owns 1,214,627 shares of the company’s stock worth $42,220,000 after buying an additional 507,518 shares during the period. Anchor Bolt Capital LP boosted its stake in shares of CaesarStone Sdot-Yam by 17.6% in the second quarter. Anchor Bolt Capital LP now owns 940,130 shares of the company’s stock worth $32,679,000 after buying an additional 140,580 shares during the period. BlackRock Fund Advisors boosted its stake in shares of CaesarStone Sdot-Yam by 1,388.3% in the second quarter. BlackRock Fund Advisors now owns 666,707 shares of the company’s stock worth $23,175,000 after buying an additional 621,910 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of CaesarStone Sdot-Yam by 4.6% in the second quarter. TIAA CREF Investment Management LLC now owns 653,400 shares of the company’s stock worth $22,712,000 after buying an additional 28,562 shares during the period. 63.75% of the stock is owned by institutional investors and hedge funds.
Shares of CaesarStone Sdot-Yam (NASDAQ:CSTE) opened at 36.89 on Thursday. The company has a market cap of $1.28 billion, a PE ratio of 17.24 and a beta of 2.03. CaesarStone Sdot-Yam has a 1-year low of $27.31 and a 1-year high of $43.52. The firm has a 50-day moving average price of $38.40 and a 200 day moving average price of $37.38.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last posted its earnings results on Wednesday, August 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm earned $142.30 million during the quarter, compared to the consensus estimate of $139.53 million. CaesarStone Sdot-Yam had a return on equity of 19.69% and a net margin of 14.46%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that CaesarStone Sdot-Yam will post $2.58 earnings per share for the current year.
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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