Commercial Metals (NYSE:CMC) Price Target Cut to $54.00 by Analysts at BMO Capital Markets

Commercial Metals (NYSE:CMC) had its price target decreased by research analysts at BMO Capital Markets from $58.00 to $54.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 14.07% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. Morgan Stanley cut their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price target for the company from $56.00 to $54.00 in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $61.17.

Commercial Metals Trading Up 1.0 %

Commercial Metals stock opened at $47.34 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53. The firm’s 50 day moving average price is $48.87 and its two-hundred day moving average price is $52.77.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $0.88 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cim LLC increased its holdings in shares of Commercial Metals by 1.8% during the 4th quarter. Cim LLC now owns 41,784 shares of the basic materials company’s stock worth $2,072,000 after purchasing an additional 744 shares during the period. Park Square Financial Group LLC bought a new position in shares of Commercial Metals during the 4th quarter worth about $33,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Commercial Metals during the 4th quarter worth about $4,475,000. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter valued at about $34,000. Finally, Integrated Advisors Network LLC boosted its position in shares of Commercial Metals by 9.3% during the 4th quarter. Integrated Advisors Network LLC now owns 8,972 shares of the basic materials company’s stock valued at $445,000 after acquiring an additional 760 shares in the last quarter. 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.