Caesarstone (NASDAQ:CSTE) Share Price Passes Above 200-Day Moving Average of $4.13

Caesarstone Ltd. (NASDAQ:CSTE)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.13 and traded as high as $5.87. Caesarstone shares last traded at $5.45, with a volume of 66,158 shares traded.

Analyst Ratings Changes

CSTE has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Caesarstone from $5.50 to $5.00 and set a “hold” rating for the company in a report on Tuesday, December 19th. StockNews.com downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd.

Caesarstone Stock Performance

The firm has a market cap of $188.19 million, a P/E ratio of -1.74 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.51 and a current ratio of 2.64. The company’s 50 day moving average is $4.30 and its 200 day moving average is $4.13.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $128.53 million during the quarter, compared to the consensus estimate of $124.94 million. Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. During the same period in the previous year, the company earned ($0.03) EPS. As a group, equities analysts predict that Caesarstone Ltd. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesarstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSTE. Swiss National Bank increased its position in Caesarstone by 6.7% in the 1st quarter. Swiss National Bank now owns 57,400 shares of the construction company’s stock valued at $604,000 after acquiring an additional 3,600 shares during the period. HighTower Advisors LLC increased its position in Caesarstone by 20.3% in the 1st quarter. HighTower Advisors LLC now owns 64,190 shares of the construction company’s stock valued at $678,000 after acquiring an additional 10,833 shares during the period. BlackRock Inc. increased its position in Caesarstone by 0.8% in the 1st quarter. BlackRock Inc. now owns 1,922,007 shares of the construction company’s stock valued at $20,221,000 after acquiring an additional 15,522 shares during the period. LSV Asset Management increased its position in Caesarstone by 6.0% in the 1st quarter. LSV Asset Management now owns 198,800 shares of the construction company’s stock valued at $2,091,000 after acquiring an additional 11,192 shares during the period. Finally, Vanguard Group Inc. increased its position in Caesarstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 107,753 shares of the construction company’s stock valued at $1,134,000 after acquiring an additional 2,068 shares during the period. 33.70% of the stock is currently owned by institutional investors and hedge funds.

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.