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

Caesarstone (NASDAQ:CSTE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Caesarstone Stock Up 1.3 %

NASDAQ:CSTE opened at $4.55 on Wednesday. Caesarstone has a 12-month low of $3.55 and a 12-month high of $6.81. The stock’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.78. The firm has a market capitalization of $157.12 million, a price-to-earnings ratio of -2.26 and a beta of 0.17.

Hedge Funds Weigh In On Caesarstone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the period. Jane Street Group LLC acquired a new position in Caesarstone in the 3rd quarter valued at about $55,000. Barclays PLC raised its holdings in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after acquiring an additional 20,271 shares during the period. Rhumbline Advisers acquired a new stake in Caesarstone during the second quarter worth approximately $107,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Caesarstone during the second quarter worth approximately $106,000. 33.70% of the stock is owned by institutional investors.

Caesarstone Company Profile

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.