Caesarstone (NASDAQ:CSTE) Stock Rating Upgraded by Wall Street Zen

Caesarstone (NASDAQ:CSTE) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Caesarstone in a research report on Thursday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Caesarstone currently has an average rating of “Sell”.

Caesarstone Price Performance

CSTE opened at $2.30 on Friday. The stock’s fifty day moving average is $2.08 and its two-hundred day moving average is $1.75. The company has a market capitalization of $79.51 million, a P/E ratio of -0.56 and a beta of 0.37. Caesarstone has a 52 week low of $0.56 and a 52 week high of $2.62.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.16. The firm had revenue of $96.55 million during the quarter, compared to analysts’ expectations of $102.50 million. Caesarstone had a negative net margin of 37.37% and a negative return on equity of 32.36%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Pitcairn Co. purchased a new position in shares of Caesarstone in the 2nd quarter valued at about $31,000. Virtu Financial LLC purchased a new stake in shares of Caesarstone in the fourth quarter valued at approximately $30,000. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone during the 2nd quarter worth approximately $56,000. Empowered Funds LLC raised its stake in shares of Caesarstone by 10.7% during the 1st quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock worth $62,000 after buying an additional 5,584 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after buying an additional 39,474 shares in the last quarter. 33.70% of the stock is owned by institutional investors and hedge funds.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.