Morgan Stanley Downgrades CEMEX (NYSE:CX) to Equal Weight

CEMEX (NYSE:CX) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday,Finviz reports.

CX has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group lifted their price target on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.82.

CEMEX Price Performance

NYSE CX opened at $6.30 on Wednesday. CEMEX has a 12-month low of $5.00 and a 12-month high of $9.27. The firm’s fifty day simple moving average is $6.14 and its two-hundred day simple moving average is $5.89. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.13 billion, a P/E ratio of 10.00 and a beta of 1.45.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Analysts forecast that CEMEX will post 0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CX. IFP Advisors Inc raised its holdings in CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares during the period. Barclays PLC raised its stake in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares during the period. Townsquare Capital LLC purchased a new position in shares of CEMEX during the 4th quarter valued at approximately $57,000. Dark Forest Capital Management LP purchased a new stake in CEMEX in the 4th quarter worth $59,000. Finally, Raiffeisen Bank International AG acquired a new position in CEMEX during the fourth quarter worth $59,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.