CEMEX SAB de CV (CX) Trading Up 4.3%
CEMEX SAB de CV (NYSE:CX) shares were up 4.3% during mid-day trading on Wednesday . The company traded as high as $7.54 and last traded at $7.27, with a volume of 18,268,229 shares changing hands. The stock had previously closed at $6.97.
A number of research analysts have issued reports on CX shares. Scotiabank lowered shares of CEMEX SAB de CV from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 6th. Zacks Investment Research raised shares of CEMEX SAB de CV from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research note on Monday, July 11th. Barclays PLC raised shares of CEMEX SAB de CV from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Thursday, April 21st. Sterne Agee CRT reissued a “buy” rating on shares of CEMEX SAB de CV in a research note on Monday, May 16th. Finally, Citigroup Inc. lowered shares of CEMEX SAB de CV from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $8.36.
The company has a 50 day moving average price of $6.41 and a 200-day moving average price of $6.04. The firm has a market cap of $74.90 billion and a price-to-earnings ratio of 443.75.
Other large investors have recently bought and sold shares of the company. Sei Investments Co. purchased a new stake in CEMEX SAB de CV during the fourth quarter valued at $2,089,000. South Dakota Investment Council raised its stake in CEMEX SAB de CV by 38.9% in the fourth quarter. South Dakota Investment Council now owns 194,800 shares of the company’s stock valued at $1,085,000 after buying an additional 54,600 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in CEMEX SAB de CV by 13.9% in the fourth quarter. Brandes Investment Partners LP now owns 33,370,688 shares of the company’s stock valued at $185,874,000 after buying an additional 4,076,878 shares during the last quarter.
CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in more than 50 countries throughout the world.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.