Commercial Metals (NYSE:CMC) Cut to Hold at Zacks Research

Commercial Metals (NYSE:CMC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports. Zacks Research also issued estimates for Commercial Metals’ Q1 2027 earnings at $1.65 EPS.

A number of other analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Citigroup lifted their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Finally, Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the stock a “buy” rating in a research report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Commercial Metals has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Commercial Metals Stock Up 0.9%

NYSE:CMC opened at $82.64 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 3.70. The firm’s 50-day moving average price is $71.96 and its 200-day moving average price is $62.56. The company has a market capitalization of $9.17 billion, a PE ratio of 21.30, a P/E/G ratio of 0.44 and a beta of 1.49. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $84.12.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.55 by $0.29. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. Commercial Metals’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis V. Arriola purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were bought at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the acquisition, the director owned 9,238 shares in the company, valued at approximately $689,986.22. The trade was a 27.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Commercial Metals by 2.6% in the 3rd quarter. State Street Corp now owns 6,270,373 shares of the basic materials company’s stock worth $359,167,000 after purchasing an additional 161,195 shares during the period. Boston Partners boosted its stake in shares of Commercial Metals by 1.9% in the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock worth $208,629,000 after buying an additional 67,139 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Commercial Metals by 10.0% in the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock worth $156,215,000 after buying an additional 290,256 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after acquiring an additional 112,267 shares during the period. Finally, Invesco Ltd. increased its position in Commercial Metals by 4.8% during the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after acquiring an additional 76,365 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.