Cemex (NYSE:CX) Given New $15.00 Price Target at JPMorgan Chase & Co.

Cemex (NYSE:CX) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $14.50 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 26.10% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Morgan Stanley raised shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research note on Monday, March 23rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Finally, Scotiabank upped their target price on Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Cemex Price Performance

Cemex stock traded down $0.21 during mid-day trading on Wednesday, reaching $11.89. 570,004 shares of the company’s stock traded hands, compared to its average volume of 5,988,797. Cemex has a 12-month low of $7.17 and a 12-month high of $13.67. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 37.15 and a beta of 1.52. The stock has a 50 day moving average of $12.64 and a two-hundred day moving average of $12.15. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. Equities analysts forecast that Cemex will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC lifted its position in shares of Cemex by 17.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 42,732 shares of the construction company’s stock worth $513,000 after purchasing an additional 6,368 shares during the period. Parallel Advisors LLC lifted its holdings in Cemex by 15.7% during the first quarter. Parallel Advisors LLC now owns 20,119 shares of the construction company’s stock worth $230,000 after buying an additional 2,729 shares during the period. Bank of America Corp DE boosted its position in Cemex by 31.8% during the 1st quarter. Bank of America Corp DE now owns 1,916,167 shares of the construction company’s stock valued at $21,921,000 after acquiring an additional 462,848 shares in the last quarter. Amundi increased its holdings in shares of Cemex by 9.3% in the 1st quarter. Amundi now owns 3,115,879 shares of the construction company’s stock valued at $35,646,000 after acquiring an additional 264,248 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Cemex by 5.1% in the 1st quarter. Quantinno Capital Management LP now owns 143,677 shares of the construction company’s stock worth $1,644,000 after acquiring an additional 6,911 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.