CEMEX (NYSE:CX) Price Target Increased to $10.00 by Analysts at The Goldman Sachs Group

CEMEX (NYSE:CX) had its target price hoisted by The Goldman Sachs Group from $9.00 to $10.00 in a report issued on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also issued reports on CX. Bank of America lowered CEMEX from a buy rating to a neutral rating and set a $9.00 price objective for the company. in a research note on Wednesday, April 24th. Barclays lowered CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective for the company. in a research note on Friday, February 9th. Finally, StockNews.com lowered CEMEX from a strong-buy rating to a buy rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CEMEX has a consensus rating of Moderate Buy and an average target price of $9.53.

CEMEX Price Performance

CEMEX stock opened at $8.11 on Friday. The firm has a market capitalization of $11.74 billion, a P/E ratio of 57.89, a PEG ratio of 0.17 and a beta of 1.47. CEMEX has a one year low of $5.67 and a one year high of $9.27. The business has a fifty day moving average price of $8.33 and a 200-day moving average price of $7.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $4.24 billion for the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. As a group, equities research analysts forecast that CEMEX will post 0.88 EPS for the current year.

Institutional Investors Weigh In On CEMEX

Hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its holdings in shares of CEMEX by 6.9% in the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock worth $190,000 after buying an additional 1,358 shares during the period. Aprio Wealth Management LLC increased its holdings in shares of CEMEX by 8.9% in the first quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock worth $158,000 after buying an additional 1,431 shares during the period. Parallel Advisors LLC increased its holdings in shares of CEMEX by 11.5% in the fourth quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock worth $109,000 after buying an additional 1,443 shares during the period. CWM LLC increased its holdings in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after buying an additional 1,506 shares during the period. Finally, Claro Advisors LLC increased its holdings in shares of CEMEX by 6.9% in the first quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock worth $278,000 after buying an additional 1,998 shares during the period. Institutional investors own 82.97% of the company’s stock.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.