Shares of Commercial Metals (NYSE:CMC) have been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.25.

CMC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Monday, June 25th. ValuEngine lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Citigroup boosted their target price on shares of Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a report on Tuesday, June 12th. Macquarie restated a “neutral” rating on shares of Commercial Metals in a report on Thursday, May 31st. Finally, Goldman Sachs Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price on the stock in a report on Monday, August 13th.

Several hedge funds and other institutional investors have recently made changes to their positions in CMC. Global X Management Co. LLC raised its holdings in shares of Commercial Metals by 197.5% during the first quarter. Global X Management Co. LLC now owns 23,916 shares of the basic materials company’s stock valued at $489,000 after purchasing an additional 15,876 shares during the period. HL Financial Services LLC raised its holdings in shares of Commercial Metals by 21.6% in the 1st quarter. HL Financial Services LLC now owns 19,000 shares of the basic materials company’s stock worth $389,000 after acquiring an additional 3,370 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Commercial Metals by 9.1% in the 1st quarter. Wells Fargo & Company MN now owns 377,010 shares of the basic materials company’s stock worth $7,714,000 after acquiring an additional 31,354 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Commercial Metals by 15.9% in the 1st quarter. SG Americas Securities LLC now owns 48,704 shares of the basic materials company’s stock worth $996,000 after acquiring an additional 6,677 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Commercial Metals in the 1st quarter worth about $2,280,000. Hedge funds and other institutional investors own 89.22% of the company’s stock.

CMC stock traded down $0.42 during midday trading on Wednesday, hitting $20.40. The stock had a trading volume of 74,717 shares, compared to its average volume of 798,881. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 33.50 and a beta of 1.36. The company has a quick ratio of 2.73, a current ratio of 3.90 and a debt-to-equity ratio of 0.78. Commercial Metals has a 1-year low of $17.38 and a 1-year high of $26.72.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 21st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.27 billion. Commercial Metals had a net margin of 1.21% and a return on equity of 8.65%. Commercial Metals’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. research analysts expect that Commercial Metals will post 1.49 earnings per share for the current year.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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