The Goldman Sachs Group Increases Cemex (NYSE:CX) Price Target to $11.00

Cemex (NYSE:CX) had its price target lifted by equities research analysts at The Goldman Sachs Group from $10.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 13.87% from the stock’s previous close.

Several other research analysts also recently commented on CX. Barclays raised their price objective on shares of Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Scotiabank reaffirmed an “outperform” rating on shares of Cemex in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Finally, Bank of America raised shares of Cemex from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $10.80 in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.49.

Cemex Trading Down 0.4%

Shares of CX stock opened at $9.66 on Friday. The company has a 50 day moving average of $9.12 and a 200-day moving average of $7.60. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. Cemex has a 12-month low of $4.89 and a 12-month high of $9.97. The firm has a market cap of $14.00 billion, a P/E ratio of 9.47, a PEG ratio of 1.39 and a beta of 1.51.

Cemex (NYSE:CX) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. Sell-side analysts anticipate that Cemex will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. WealthCollab LLC raised its position in shares of Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after buying an additional 1,580 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Cemex during the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after buying an additional 2,027 shares in the last quarter. Finally, Militia Capital Partners LP purchased a new stake in shares of Cemex during the 2nd quarter valued at $46,000. 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.