StockNews.com Downgrades Caesarstone (NASDAQ:CSTE) to Hold

Caesarstone (NASDAQ:CSTE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Benchmark cut their price target on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Caesarstone Stock Down 1.8 %

NASDAQ:CSTE traded down $0.08 during trading hours on Tuesday, hitting $4.25. 57,304 shares of the company traded hands, compared to its average volume of 83,093. The company has a market cap of $146.76 million, a PE ratio of -2.21 and a beta of 0.14. The firm’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $5.12. Caesarstone has a one year low of $3.50 and a one year high of $6.81.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSTE. Gladius Capital Management LP bought a new stake in shares of Caesarstone during the 2nd quarter worth $28,000. Bank of New York Mellon Corp purchased a new stake in Caesarstone during the second quarter worth about $293,000. Rhumbline Advisers bought a new stake in Caesarstone in the second quarter worth about $107,000. Acadian Asset Management LLC purchased a new position in Caesarstone in the second quarter valued at about $106,000. Finally, Empowered Funds LLC purchased a new stake in shares of Caesarstone during the 3rd quarter worth approximately $164,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.