Harbour Capital Advisors LLC raised its stake in Caesarstone Ltd. (NASDAQ:CSTE) by 1,384.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,783 shares of the construction company’s stock after buying an additional 21,248 shares during the period. Harbour Capital Advisors LLC owned about 0.07% of Caesarstone worth $650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC boosted its position in Caesarstone by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,944 shares of the construction company’s stock valued at $106,000 after buying an additional 256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Caesarstone by 344.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,475 shares of the construction company’s stock valued at $126,000 after buying an additional 2,694 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Caesarstone by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,948 shares of the construction company’s stock valued at $143,000 after buying an additional 191 shares in the last quarter. FNY Partners Fund LP acquired a new position in Caesarstone during the first quarter valued at $181,000. Finally, HighTower Advisors LLC acquired a new position in Caesarstone during the first quarter valued at $214,000. Hedge funds and other institutional investors own 57.48% of the company’s stock.

Shares of Caesarstone Ltd. (NASDAQ CSTE) opened at 30.75 on Monday. The company’s 50-day moving average price is $35.19 and its 200-day moving average price is $35.30. Caesarstone Ltd. has a 52-week low of $26.35 and a 52-week high of $44.00. The stock has a market cap of $1.06 billion, a PE ratio of 17.57 and a beta of 2.08.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.14. Caesarstone had a return on equity of 14.21% and a net margin of 11.21%. The firm had revenue of $148.90 million for the quarter, compared to analyst estimates of $148.35 million. During the same period in the prior year, the firm posted $0.73 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Caesarstone Ltd. will post $1.94 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on CSTE. BidaskClub cut Caesarstone from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Credit Suisse Group started coverage on Caesarstone in a research report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 price objective for the company. Chardan Capital cut Caesarstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $39.00 to $43.00 in a research report on Thursday, May 11th. TheStreet upgraded Caesarstone from a “c” rating to a “b-” rating in a research report on Tuesday, April 11th. Finally, Zacks Investment Research cut Caesarstone from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.20.

About Caesarstone

Caesarstone Ltd., formerly 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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Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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