Zacks Investment Research lowered shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus upgraded shares of Caesarstone from a hold rating to a buy rating and lifted their price target for the company from $17.00 to $19.00 in a research report on Thursday, August 8th. BidaskClub upgraded shares of Caesarstone from a sell rating to a hold rating in a research report on Thursday, August 8th. Finally, ValuEngine upgraded shares of Caesarstone from a hold rating to a buy rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Caesarstone currently has an average rating of Hold and an average target price of $16.33.

Shares of CSTE stock opened at $16.00 on Tuesday. The stock’s 50 day moving average is $14.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.24 and a quick ratio of 1.98. The firm has a market capitalization of $563.56 million, a P/E ratio of 22.22 and a beta of 1.60. Caesarstone has a 12-month low of $12.49 and a 12-month high of $21.80.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Caesarstone had a net margin of 3.20% and a return on equity of 3.80%. The firm had revenue of $141.07 million during the quarter, compared to the consensus estimate of $147.02 million. During the same period last year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts forecast that Caesarstone will post 0.68 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSTE. Truvestments Capital LLC acquired a new stake in shares of Caesarstone in the first quarter valued at approximately $27,000. Quantamental Technologies LLC bought a new position in Caesarstone in the first quarter valued at approximately $31,000. Bank of Montreal Can increased its stake in Caesarstone by 233.7% in the second quarter. Bank of Montreal Can now owns 2,683 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,879 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Caesarstone by 67.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 4,366 shares of the construction company’s stock valued at $68,000 after acquiring an additional 1,766 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Caesarstone by 505.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,772 shares of the construction company’s stock valued at $74,000 after acquiring an additional 3,984 shares during the last quarter. Institutional investors own 45.56% of the company’s stock.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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