Commercial Metals (NYSE:CMC) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $28.00 target price on the basic materials company’s stock, up from their previous target price of $25.36. Bank of America’s price objective would indicate a potential upside of 12.68% from the company’s current price. The analysts noted that the move was a valuation call.

Other research analysts also recently issued research reports about the company. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. JPMorgan Chase & Co. upgraded Commercial Metals from a “neutral” rating to an “overweight” rating in a report on Friday, March 9th. Finally, Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.38.

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Shares of Commercial Metals (NYSE CMC) traded down $0.51 during trading on Wednesday, hitting $24.85. The stock had a trading volume of 263,197 shares, compared to its average volume of 1,916,357. The firm has a market capitalization of $2,984.60, a price-to-earnings ratio of 38.42 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a 12 month low of $17.05 and a 12 month high of $26.72.

Commercial Metals (NYSE:CMC) last announced its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. Commercial Metals’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities analysts anticipate that Commercial Metals will post 1.43 earnings per share for the current fiscal year.

In other Commercial Metals news, EVP Tracy L. Porter sold 13,601 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the transaction, the executive vice president now owns 10 shares in the company, valued at $250.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adam R. Hickey sold 20,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $25.85, for a total value of $517,000.00. Following the completion of the transaction, the vice president now owns 15,632 shares in the company, valued at approximately $404,087.20. The disclosure for this sale can be found here. Insiders sold 60,536 shares of company stock worth $1,541,915 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio grew its stake in Commercial Metals by 176.5% in the fourth quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 3,000 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Commercial Metals in the third quarter valued at about $101,000. Cerebellum GP LLC purchased a new position in Commercial Metals in the fourth quarter valued at about $129,000. Global X Management Co. LLC grew its stake in Commercial Metals by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 3,450 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Commercial Metals by 38.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 2,239 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

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About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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