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

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research note published on Tuesday.

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

Caesarstone Trading Up 2.3 %

NASDAQ:CSTE opened at $4.08 on Tuesday. Caesarstone has a 1 year low of $3.50 and a 1 year high of $6.81. The stock has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $5.09. The stock has a market cap of $140.89 million, a price-to-earnings ratio of -2.03 and a beta of 0.14.

Institutional Trading of Caesarstone

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after buying an additional 20,271 shares in the last quarter. Jane Street Group LLC bought a new stake in Caesarstone in the 3rd quarter valued at approximately $55,000. State Street Corp boosted its position in Caesarstone by 1.6% during the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after acquiring an additional 2,640 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Caesarstone by 1,206.4% during 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 in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its holdings in shares of Caesarstone by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after purchasing an additional 48,200 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.