CEMEX (NYSE:CX) Stock Rating Upgraded by StockNews.com

CEMEX (NYSE:CX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the stock. Bradesco Corretora set a $7.50 price target on shares of CEMEX and gave the company a “neutral” rating in a report on Tuesday, April 15th. Royal Bank of Canada increased their target price on shares of CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.58.

CEMEX Stock Up 0.9 %

CX opened at $6.16 on Friday. The company has a market cap of $8.92 billion, a P/E ratio of 9.77 and a beta of 1.28. CEMEX has a 12 month low of $4.89 and a 12 month high of $8.11. The business’s 50-day moving average price is $5.78 and its 200-day moving average price is $5.79. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last posted its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The firm had revenue of $186.46 million for the quarter, compared to analysts’ expectations of $214.59 million. On average, equities analysts expect that CEMEX will post 0.69 EPS for the current year.

Hedge Funds Weigh In On CEMEX

A number of hedge funds have recently modified their holdings of CX. Barclays PLC raised its holdings in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares in the last quarter. Allworth Financial LP lifted its holdings in CEMEX by 7.4% in the 1st quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock valued at $157,000 after purchasing an additional 1,906 shares in the last quarter. Cetera Investment Advisers boosted its position in CEMEX by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company’s stock worth $179,000 after acquiring an additional 2,452 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of CEMEX by 21.0% in the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock valued at $81,000 after purchasing an additional 2,505 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of CEMEX by 3.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company’s stock worth $437,000 after acquiring an additional 2,570 shares during the period. 82.97% of the stock is currently owned by hedge funds and other 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.