Zacks Investment Research downgraded shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel. “
Several other brokerages have also issued reports on CSTE. TheStreet lowered shares of CaesarStone Sdot-Yam from a buy rating to a hold rating in a report on Friday, September 9th. Credit Suisse Group AG reaffirmed an outperform rating and issued a $47.00 price objective on shares of CaesarStone Sdot-Yam in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. CaesarStone Sdot-Yam currently has a consensus rating of Buy and a consensus price target of $46.57.
Shares of CaesarStone Sdot-Yam (NASDAQ:CSTE) opened at 37.61 on Tuesday. CaesarStone Sdot-Yam has a 12 month low of $27.31 and a 12 month high of $43.52. The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.57 and a beta of 2.03. The stock has a 50 day moving average price of $38.50 and a 200 day moving average price of $37.29.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. CaesarStone Sdot-Yam had a net margin of 14.46% and a return on equity of 19.69%. The company earned $142.30 million during the quarter, compared to analyst estimates of $139.53 million. During the same quarter in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, analysts expect that CaesarStone Sdot-Yam will post $2.58 earnings per share for the current year.
A number of large investors have recently bought and sold shares of CSTE. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of CaesarStone Sdot-Yam during the second quarter valued at approximately $49,327,000. Joho Capital LLC boosted its stake in shares of CaesarStone Sdot-Yam by 71.8% in the second quarter. Joho Capital LLC now owns 1,214,627 shares of the company’s stock valued at $42,220,000 after buying an additional 507,518 shares during the period. Anchor Bolt Capital LP boosted its stake in shares of CaesarStone Sdot-Yam by 17.6% in the second quarter. Anchor Bolt Capital LP now owns 940,130 shares of the company’s stock valued at $32,679,000 after buying an additional 140,580 shares during the period. BlackRock Fund Advisors boosted its stake in shares of CaesarStone Sdot-Yam by 1,388.3% in the second quarter. BlackRock Fund Advisors now owns 666,707 shares of the company’s stock valued at $23,175,000 after buying an additional 621,910 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of CaesarStone Sdot-Yam by 4.6% in the second quarter. TIAA CREF Investment Management LLC now owns 653,400 shares of the company’s stock valued at $22,712,000 after buying an additional 28,562 shares during the period. 63.75% of the stock is currently owned by institutional investors and hedge funds.
CaesarStone Sdot-Yam Company Profile
Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.