BidaskClub downgraded shares of Caesarstone Ltd. (NASDAQ:CSTE) from a hold rating to a sell rating in a research note published on Saturday.

Several other analysts have also commented on CSTE. Zacks Investment Research raised shares of Caesarstone from a strong sell rating to a hold rating in a research report on Tuesday, April 11th. TheStreet raised shares of Caesarstone from a c rating to a b- rating in a research report on Tuesday, April 11th. Chardan Capital lowered shares of Caesarstone from a buy rating to a neutral rating and lifted their price target for the company from $39.00 to $43.00 in a research report on Thursday, May 11th. Credit Suisse Group initiated coverage on shares of Caesarstone in a research report on Thursday, June 22nd. They set a neutral rating and a $37.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $47.00 price target on shares of Caesarstone in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $38.20.

Caesarstone (NASDAQ:CSTE) opened at 30.40 on Friday. The company has a market cap of $1.04 billion, a PE ratio of 17.37 and a beta of 2.08. Caesarstone has a 52 week low of $26.35 and a 52 week high of $44.00. The company has a 50-day moving average price of $35.19 and a 200 day moving average price of $35.30.

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

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A number of hedge funds have recently bought and sold shares of CSTE. State Street Corp increased its stake in Caesarstone by 7.3% in the fourth quarter. State Street Corp now owns 486,390 shares of the construction company’s stock valued at $13,937,000 after buying an additional 32,943 shares during the period. Norges Bank bought a new stake in Caesarstone during the fourth quarter valued at $7,077,000. Teachers Advisors LLC increased its stake in Caesarstone by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 390,768 shares of the construction company’s stock valued at $11,196,000 after buying an additional 30,119 shares during the period. Highbridge Capital Management LLC bought a new stake in Caesarstone during the fourth quarter valued at $311,000. Finally, CWM LLC bought a new stake in Caesarstone during the first quarter valued at $1,846,000. Hedge funds and other institutional investors own 57.48% of the company’s stock.

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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