Caesarstone (NASDAQ:CSTE) Downgraded by Wall Street Zen to “Strong Sell”

Caesarstone (NASDAQ:CSTE) was downgraded by research analysts at Wall Street Zen to a “strong sell” rating in a report released on Friday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Caesarstone Trading Up 12.1%

Shares of CSTE stock traded up $0.27 on Friday, reaching $2.50. The company’s stock had a trading volume of 174,957 shares, compared to its average volume of 92,004. The stock’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.57. Caesarstone has a 1 year low of $0.86 and a 1 year high of $4.67. The company has a market capitalization of $86.38 million, a price-to-earnings ratio of -1.23 and a beta of -0.09.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). Caesarstone had a negative net margin of 18.44% and a negative return on equity of 19.35%. The business had revenue of $102.11 million for the quarter, compared to the consensus estimate of $97.60 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in shares of Caesarstone in the second quarter worth approximately $263,000. Y Intercept Hong Kong Ltd purchased a new stake in Caesarstone in the second quarter worth $212,000. Citadel Advisors LLC lifted its position in shares of Caesarstone by 163.7% during the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after purchasing an additional 39,474 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Caesarstone during the third quarter worth $89,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone during the second quarter valued at $56,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

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.