Commercial Metals (NYSE:CMC) Stock Rating Lowered by Wall Street Zen

Commercial Metals (NYSE:CMC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the company. Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a report on Wednesday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Jefferies Financial Group reissued a “buy” rating on shares of Commercial Metals in a research note on Friday, June 20th. Finally, UBS Group upped their price target on shares of Commercial Metals from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.39.

Commercial Metals Stock Down 0.2%

Shares of NYSE:CMC opened at $58.56 on Friday. The business has a fifty day simple moving average of $56.60 and a 200 day simple moving average of $50.70. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The firm has a market cap of $6.55 billion, a P/E ratio of 188.90, a P/E/G ratio of 2.05 and a beta of 1.32. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Commercial Metals

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Commercial Metals by 5,679.9% during the 1st quarter. GAMMA Investing LLC now owns 150,913 shares of the basic materials company’s stock worth $6,944,000 after buying an additional 148,302 shares during the period. Parallel Advisors LLC increased its holdings in shares of Commercial Metals by 22.0% during the first quarter. Parallel Advisors LLC now owns 2,312 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 417 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of Commercial Metals by 93,700.0% in the 1st quarter. NBC Securities Inc. now owns 4,690 shares of the basic materials company’s stock worth $215,000 after purchasing an additional 4,685 shares in the last quarter. Curat Global LLC acquired a new stake in Commercial Metals in the 1st quarter valued at $175,000. Finally, Sovereign Financial Group Inc. increased its stake in Commercial Metals by 13.7% during the 1st quarter. Sovereign Financial Group Inc. now owns 11,490 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 1,385 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.