Commercial Metals Company (CMC) Receives Consensus Recommendation of “Hold” from Analysts
Commercial Metals Company (NYSE:CMC) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $20.63.
CMC has been the subject of several research reports. Citigroup Inc. decreased their price target on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Bank of America Corporation restated a “neutral” rating and set a $21.00 price target (up from $20.00) on shares of Commercial Metals in a report on Tuesday, September 5th. Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a report on Monday, September 4th. Macquarie initiated coverage on shares of Commercial Metals in a report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target for the company. Finally, Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a report on Wednesday, June 28th.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMC. BlackRock Inc. lifted its stake in Commercial Metals by 17,672.9% in the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock valued at $278,663,000 after acquiring an additional 14,484,894 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Commercial Metals in the second quarter valued at approximately $29,018,000. Goldman Sachs Group Inc. lifted its stake in Commercial Metals by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,986,048 shares of the basic materials company’s stock valued at $76,253,000 after acquiring an additional 1,201,973 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Commercial Metals by 167.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock valued at $36,922,000 after acquiring an additional 1,190,364 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in Commercial Metals by 322.3% in the second quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock valued at $20,277,000 after acquiring an additional 796,477 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.
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Commercial Metals (NYSE:CMC) opened at 20.78 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of 32.12 and a beta of 1.22. Commercial Metals has a 1-year low of $15.16 and a 1-year high of $24.64. The firm’s 50-day moving average is $18.73 and its 200-day moving average is $18.70.
About Commercial Metals
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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