Caesarstone (NASDAQ:CSTE) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Benchmark lowered their target price on Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Caesarstone Stock Up 3.1 %

Caesarstone stock opened at $3.99 on Tuesday. The business has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $5.11. The company has a market cap of $137.77 million, a P/E ratio of -2.08 and a beta of 0.14. Caesarstone has a 52-week low of $3.50 and a 52-week high of $6.81.

Institutional Trading of Caesarstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSTE. BNP Paribas Financial Markets boosted its position in shares of Caesarstone by 1,206.4% during the third 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 last quarter. Global Alpha Capital Management Ltd. boosted its holdings in shares of Caesarstone by 1.6% in the 3rd 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 period. Empowered Funds LLC bought a new position in Caesarstone during the third quarter valued at $164,000. Acadian Asset Management LLC bought a new position in Caesarstone during the 2nd quarter valued at about $106,000. Finally, Rhumbline Advisers bought a new position in shares of Caesarstone during the second quarter valued at approximately $107,000. Institutional investors 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.