ValuEngine downgraded shares of Commercial Metals (NYSE:CMC) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other brokerages have also commented on CMC. Zacks Investment Research lowered shares of Commercial Metals from a hold rating to a sell rating in a report on Tuesday, June 19th. Seaport Global Securities initiated coverage on shares of Commercial Metals in a report on Thursday. They set a neutral rating and a $20.00 price objective on the stock. Deutsche Bank lowered shares of Commercial Metals to a buy rating in a report on Tuesday, October 2nd. Bank of America lowered shares of Commercial Metals from a neutral rating to an underperform rating and set a $24.00 price objective on the stock. in a report on Tuesday, June 19th. They noted that the move was a valuation call. Finally, Goldman Sachs Group raised shares of Commercial Metals from a sell rating to a neutral rating and set a $24.00 price objective on the stock in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $24.44.

Shares of NYSE:CMC opened at $19.12 on Friday. Commercial Metals has a 12 month low of $17.58 and a 12 month high of $26.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.73 and a current ratio of 3.90. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 30.84 and a beta of 1.32.

A number of institutional investors have recently added to or reduced their stakes in CMC. Tower Research Capital LLC TRC lifted its position in Commercial Metals by 79.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 3,822 shares during the period. NumerixS Investment Technologies Inc lifted its position in Commercial Metals by 62.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 15,100 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 5,832 shares during the period. Asset Management One Co. Ltd. acquired a new position in Commercial Metals during the 1st quarter valued at about $326,000. Xact Kapitalforvaltning AB lifted its position in Commercial Metals by 48.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 17,197 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 5,600 shares during the period. Finally, Cim Investment Mangement Inc. acquired a new position in Commercial Metals during the 2nd quarter valued at about $359,000. Institutional investors own 89.02% of the company’s stock.

Commercial Metals Company Profile

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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