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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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