BNP Paribas Arbitrage SA lowered its position in Caesarstone Ltd (NASDAQ:CSTE) by 23.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,633 shares of the construction company’s stock after selling 1,139 shares during the period. BNP Paribas Arbitrage SA’s holdings in Caesarstone were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Delek Group Ltd. boosted its position in Caesarstone by 1.4% in the first quarter. Delek Group Ltd. now owns 1,890,409 shares of the construction company’s stock valued at $29,364,000 after buying an additional 25,892 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in Caesarstone in the first quarter valued at approximately $10,861,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Caesarstone by 0.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 653,597 shares of the construction company’s stock worth $9,824,000 after purchasing an additional 1,810 shares in the last quarter. Sphera Funds Management LTD. boosted its position in Caesarstone by 1.9% in the 1st quarter. Sphera Funds Management LTD. now owns 478,114 shares of the construction company’s stock worth $7,463,000 after purchasing an additional 8,954 shares in the last quarter. Finally, Strs Ohio boosted its position in Caesarstone by 40.9% in the 2nd quarter. Strs Ohio now owns 36,200 shares of the construction company’s stock worth $544,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 45.59% of the company’s stock.
CSTE has been the topic of several recent research reports. Zacks Investment Research lowered Caesarstone from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. BidaskClub lowered Caesarstone from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. ValuEngine upgraded Caesarstone from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus raised Caesarstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.00 to $19.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Caesarstone presently has a consensus rating of “Hold” and an average target price of $16.33.
Shares of CSTE stock traded up $0.46 during trading hours on Friday, hitting $16.10. 11,466 shares of the company’s stock were exchanged, compared to its average volume of 87,303. The firm has a 50 day moving average of $14.90 and a two-hundred day moving average of $15.19. Caesarstone Ltd has a fifty-two week low of $12.49 and a fifty-two week high of $21.80. The company has a quick ratio of 1.98, a current ratio of 3.24 and a debt-to-equity ratio of 0.15. The firm has a market cap of $546.27 million, a P/E ratio of 22.35 and a beta of 1.49.
Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Caesarstone had a return on equity of 3.80% and a net margin of 3.20%. The firm had revenue of $141.07 million during the quarter, compared to the consensus estimate of $147.02 million. During the same period in the prior year, the company earned $0.43 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Caesarstone Ltd will post 0.7 earnings per share for the current fiscal year.
Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.
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