CEMEX (NYSE:CX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of CEMEX (NYSE:CXGet Rating) from a sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Through operating subsidiaries in four continents, they are engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. They are also the world’s leading producer of white cement and the world’s largest trader of cement and clinker. “

Several other analysts have also recently commented on the company. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an overweight rating on the stock in a research report on Wednesday, January 26th. StockNews.com upgraded CEMEX from a hold rating to a buy rating in a research report on Wednesday, April 20th. TheStreet cut CEMEX from a b- rating to a c+ rating in a research report on Wednesday, April 27th. The Goldman Sachs Group cut CEMEX from a buy rating to a neutral rating and lowered their target price for the company from $9.20 to $6.00 in a research report on Monday, April 4th. Finally, Credit Suisse Group upgraded CEMEX from a neutral rating to an outperform rating and set a $6.70 price target on the stock in a research report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Buy and an average target price of $8.68.

Shares of CEMEX stock opened at $4.57 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $4.62 and its 200-day simple moving average is $5.50. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.63 and a beta of 1.35. CEMEX has a twelve month low of $3.82 and a twelve month high of $9.09.

CEMEX (NYSE:CXGet Rating) last posted its earnings results on Thursday, April 28th. The construction company reported $0.13 EPS for the quarter. CEMEX had a return on equity of 3.38% and a net margin of 1.97%. The firm had revenue of $3.77 billion for the quarter. Sell-side analysts predict that CEMEX will post 0.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CX. National Bank of Canada FI bought a new stake in shares of CEMEX during the 4th quarter worth $34,000. First Manhattan Co. acquired a new stake in shares of CEMEX in the third quarter worth $50,000. O Shaughnessy Asset Management LLC boosted its position in shares of CEMEX by 998.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,943 shares of the construction company’s stock worth $57,000 after buying an additional 7,220 shares during the period. Truist Financial Corp acquired a new stake in shares of CEMEX in the first quarter worth $57,000. Finally, QCM Cayman Ltd. acquired a new stake in shares of CEMEX in the first quarter worth $57,000. 33.42% of the stock is owned by institutional investors and hedge funds.

About CEMEX (Get Rating)

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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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