Shares of CEMEX, S.A.B. de C.V. (NYSE:CX – Get Rating) have been assigned an average rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.96.
CX has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of CEMEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 9th. TheStreet downgraded shares of CEMEX from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th. The Goldman Sachs Group downgraded shares of CEMEX from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $9.20 to $6.00 in a report on Monday, April 4th. Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 26th. Finally, Credit Suisse Group upgraded shares of CEMEX from a “neutral” rating to an “outperform” rating and set a $6.70 price target on the stock in a research report on Wednesday, April 20th.
Shares of CX opened at $4.36 on Tuesday. The company has a market capitalization of $6.41 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. CEMEX has a one year low of $4.14 and a one year high of $9.09. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.79 and a quick ratio of 0.55. The company’s fifty day moving average price is $4.88 and its 200 day moving average price is $5.81.
Several institutional investors have recently modified their holdings of CX. Itau Unibanco Holding S.A. boosted its position in shares of CEMEX by 329.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 17,099,973 shares of the construction company’s stock valued at $112,524,000 after acquiring an additional 13,121,053 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of CEMEX during the 4th quarter valued at about $74,910,000. TT International Asset Management LTD boosted its position in CEMEX by 36.2% in the third quarter. TT International Asset Management LTD now owns 26,530,863 shares of the construction company’s stock valued at $190,226,000 after buying an additional 7,050,524 shares in the last quarter. Morgan Stanley boosted its position in CEMEX by 90.6% in the second quarter. Morgan Stanley now owns 6,400,637 shares of the construction company’s stock valued at $53,765,000 after buying an additional 3,042,072 shares in the last quarter. Finally, IPG Investment Advisors LLC acquired a new position in CEMEX in the fourth quarter valued at about $16,085,000. Institutional investors and hedge funds own 33.42% of the company’s stock.
CEMEX Company Profile (Get Rating)
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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