Commercial Metals (NYSE:CMC) Downgraded to Neutral Rating by BNP Paribas

Commercial Metals (NYSE:CMC) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

Several other equities research analysts have also commented on the stock. UBS Group reiterated a “sell” rating and issued a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $65.33.

Commercial Metals Trading Down 0.9 %

NYSE:CMC opened at $49.15 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a one year low of $47.42 and a one year high of $64.53. The company has a market cap of $5.60 billion, a PE ratio of 11.87, a PEG ratio of 2.74 and a beta of 1.15. The firm has a 50-day moving average of $57.13 and a 200-day moving average of $54.98.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities research analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Institutional Trading of Commercial Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Commercial Metals in the 3rd quarter worth approximately $66,000. GAMMA Investing LLC raised its position in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after buying an additional 944 shares in the last quarter. KBC Group NV boosted its stake in Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after buying an additional 425 shares during the period. Highland Capital Management LLC bought a new stake in Commercial Metals during the third quarter valued at $206,000. Finally, Harbor Capital Advisors Inc. increased its stake in Commercial Metals by 29.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 870 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.