Caesarstone (NASDAQ:CSTE) Rating Lowered to Strong Sell at Wall Street Zen

Caesarstone (NASDAQ:CSTE) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Caesarstone Trading Up 10.6%

CSTE opened at $1.57 on Friday. Caesarstone has a 12 month low of $0.56 and a 12 month high of $3.26. The business’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.52. The company has a market cap of $54.27 million, a P/E ratio of -0.39 and a beta of 0.04.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, March 4th. The construction company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). Caesarstone had a negative net margin of 34.60% and a negative return on equity of 24.33%. The company had revenue of $94.44 million during the quarter, compared to the consensus estimate of $93.70 million.

Institutional Investors Weigh In On Caesarstone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Caesarstone in the second quarter worth $263,000. GSA Capital Partners LLP purchased a new position in shares of Caesarstone in the third quarter worth $89,000. Citadel Advisors LLC increased its stake in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after buying an additional 39,474 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Caesarstone in the second quarter worth $56,000. Finally, Virtu Financial LLC purchased a new position in shares of Caesarstone in the fourth quarter worth $30,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.