Caesarstone (NASDAQ:CSTE) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Caesarstone (NASDAQ:CSTE) to a strong sell rating in a report released on Friday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Caesarstone has an average rating of “Sell”.

Caesarstone Stock Performance

Shares of Caesarstone stock opened at $2.50 on Friday. The company has a market capitalization of $86.38 million, a PE ratio of -1.23 and a beta of -0.09. The company has a 50-day simple moving average of $1.71 and a two-hundred day simple moving average of $1.57. Caesarstone has a one year low of $0.86 and a one year high of $4.67.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.The firm had revenue of $102.11 million during the quarter, compared to analysts’ expectations of $97.60 million.

Institutional Investors Weigh In On Caesarstone

A number of large investors have recently made changes to their positions in the stock. Simplex Trading LLC purchased a new position in Caesarstone in the 2nd quarter worth $26,000. Pitcairn Co. acquired a new position in shares of Caesarstone in the second quarter valued at about $31,000. Quadrature Capital Ltd purchased a new position in shares of Caesarstone in the second quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new position in shares of Caesarstone in the second quarter worth about $56,000. Finally, GSA Capital Partners LLP purchased a new stake in Caesarstone in the third quarter valued at approximately $89,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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.