CEMEX (NYSE:CX) Downgraded by Bank of America to Neutral

Bank of America lowered shares of CEMEX (NYSE:CX) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $9.00 price objective on the construction company’s stock.

CX has been the subject of a number of other reports. Barclays lowered CEMEX from an overweight rating to an equal weight rating and set a $9.00 price objective for the company. in a report on Friday, February 9th. StockNews.com lowered CEMEX from a strong-buy rating to a buy rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $9.37.

CEMEX Stock Performance

Shares of CX opened at $8.13 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.74. The stock has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $7.60. The firm has a market capitalization of $11.78 billion, a P/E ratio of 67.75, a P/E/G ratio of 0.15 and a beta of 1.47. CEMEX has a 52 week low of $5.67 and a 52 week high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. Equities analysts forecast that CEMEX will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Institutional investors have recently modified their holdings of the business. Creative Financial Designs Inc. ADV bought a new position in shares of CEMEX in the fourth quarter valued at approximately $26,000. CWM LLC grew its holdings in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after acquiring an additional 1,506 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after acquiring an additional 2,062 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in CEMEX by 40.6% during the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock valued at $55,000 after purchasing an additional 2,454 shares during the period. Finally, Euro Pacific Asset Management LLC bought a new position in CEMEX during the third quarter valued at $72,000. 82.97% of the stock is owned by institutional investors.

About CEMEX

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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.