Morgan Stanley Trims HeidelbergCement (OTCMKTS:HDELY) Target Price to €67.00

HeidelbergCement (OTCMKTS:HDELY – Get Rating) had its target price lowered by Morgan Stanley from €68.00 ($71.58) to €67.00 ($70.53) in a research note issued to investors on Friday morning, The Fly reports. Morgan Stanley currently has an equal weight rating on the construction company’s stock.

Other research analysts also recently issued reports about the stock. Credit Suisse Group lowered their price objective on shares of HeidelbergCement from €74.00 ($77.89) to €68.00 ($71.58) in a research report on Thursday, March 17th. Zacks Investment Research downgraded shares of HeidelbergCement from a hold rating to a sell rating in a research report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of HeidelbergCement from €60.00 ($63.16) to €59.00 ($62.11) and set a neutral rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $62.50.

HeidelbergCement stock traded up $0.41 during midday trading on Friday, hitting $10.81. 98,567 shares of the company’s stock were exchanged, compared to its average volume of 137,995. HeidelbergCement has a 12-month low of $10.52 and a 12-month high of $18.67. The company has a current ratio of 1.16, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $13.20.

The company also recently announced a dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th will be paid a $0.3371 dividend. This represents a dividend yield of 3.14%. The ex-dividend date is Friday, May 13th.

About HeidelbergCement (Get Rating)

HeidelbergCement AG, together with its subsidiaries, produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. It provides cement products, natural stone aggregates, such as sand and gravel; crushed aggregates comprising stone chippings and crushed stones; and concrete/ready-mixed concrete for use in the construction of tunnels or bridges, office buildings, or schools, as well as to produce precast concrete parts consisting of stairs, ceiling elements, or structural components.

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