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

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research report released on Wednesday morning.

Caesarstone Price Performance

CSTE stock opened at $4.47 on Wednesday. The business’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.58. Caesarstone has a fifty-two week low of $3.76 and a fifty-two week high of $6.81. The stock has a market capitalization of $154.35 million, a price-to-earnings ratio of -2.22 and a beta of 0.17.

Hedge Funds Weigh In On Caesarstone

A number of hedge funds have recently added to or reduced their stakes in CSTE. JPMorgan Chase & Co. grew its holdings in shares of Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after purchasing an additional 26,705 shares in the last quarter. Barclays PLC grew its stake in 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 acquired a new stake in Caesarstone during the third quarter worth about $55,000. State Street Corp increased its holdings in Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after buying an additional 2,640 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Caesarstone by 1,206.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after buying an additional 43,129 shares in the last quarter. 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.