Caesarstone (NASDAQ:CSTE) Upgraded to “Buy” at StockNews.com

Caesarstone (NASDAQ:CSTE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Caesarstone Price Performance

Caesarstone stock opened at $4.40 on Friday. The business has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $4.72. The company has a market capitalization of $151.94 million, a PE ratio of -2.19 and a beta of 0.17. Caesarstone has a one year low of $3.76 and a one year high of $6.81.

Institutional Investors Weigh In On Caesarstone

A number of hedge funds have recently made changes to their positions in CSTE. Bank of New York Mellon Corp bought a new stake in Caesarstone during the second quarter worth about $293,000. Global Alpha Capital Management Ltd. grew its holdings in shares of Caesarstone by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after purchasing an additional 48,200 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Caesarstone by 1,206.4% in the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after buying an additional 43,129 shares in the last quarter. Empowered Funds LLC acquired a new position in Caesarstone during the 3rd quarter worth about $164,000. Finally, JPMorgan Chase & Co. grew its holdings in Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after acquiring an additional 26,705 shares during the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.