Caesarstone (NASDAQ:CSTE) Stock Rating Lowered by StockNews.com

Caesarstone (NASDAQ:CSTE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Caesarstone Price Performance

CSTE stock traded down $0.13 on Wednesday, hitting $4.47. 20,628 shares of the company were exchanged, compared to its average volume of 31,584. The stock has a market capitalization of $154.35 million, a price-to-earnings ratio of -2.22 and a beta of 0.17. Caesarstone has a twelve month low of $3.76 and a twelve month high of $6.81. The business’s fifty day moving average is $4.45 and its two-hundred day moving average is $4.58.

Institutional Investors Weigh In On Caesarstone

A number of institutional investors have recently added to or reduced their stakes in CSTE. Jane Street Group LLC acquired a new stake in Caesarstone in the 3rd quarter valued at $55,000. Empowered Funds LLC acquired a new stake in shares of Caesarstone in the third quarter valued at about $164,000. JPMorgan Chase & Co. raised its holdings in shares of Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after buying an additional 26,705 shares during the period. Barclays PLC lifted its position in Caesarstone by 87.5% during the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after acquiring an additional 20,271 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Caesarstone by 1,206.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after acquiring an additional 43,129 shares during the period. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

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.