UBS Group Reaffirms “Sell” Rating for Commercial Metals (NYSE:CMC)

Commercial Metals (NYSE:CMC)‘s stock had its “sell” rating reiterated by equities researchers at UBS Group in a report issued on Thursday, Marketbeat.com reports. They currently have a $56.00 price objective on the basic materials company’s stock, down from their prior price objective of $62.00. UBS Group’s target price suggests a potential downside of 2.15% from the stock’s current price.

CMC has been the topic of a number of other research reports. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group began coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.40.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $57.23 on Thursday. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $47.27 and a 12 month high of $64.53. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 2.74 and a beta of 1.15. The firm’s 50-day moving average is $57.90 and its 200 day moving average is $55.22.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. Research analysts predict that Commercial Metals will post 4.26 EPS for the current year.

Institutional Investors Weigh In On Commercial Metals

Several hedge funds have recently modified their holdings of CMC. Wealth Enhancement Advisory Services LLC raised its stake in Commercial Metals by 0.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock worth $1,473,000 after buying an additional 187 shares in the last quarter. Blue Trust Inc. raised its position in shares of Commercial Metals by 25.4% in the 2nd quarter. Blue Trust Inc. now owns 6,682 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 1,353 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Commercial Metals during the 2nd quarter worth $1,140,000. Raymond James & Associates boosted its position in Commercial Metals by 23.3% during the second quarter. Raymond James & Associates now owns 214,716 shares of the basic materials company’s stock valued at $11,807,000 after purchasing an additional 40,621 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Commercial Metals in the second quarter valued at about $788,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.