CEMEX (NYSE:CX – Get Free Report) had its target price reduced by stock analysts at Barclays from $9.00 to $8.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s price target suggests a potential upside of 52.53% from the stock’s previous close.
Several other equities research analysts have also commented on CX. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada upgraded CEMEX from an “underperform” rating to a “sector perform” rating and lowered their target price for the stock from $9.00 to $6.50 in a research note on Tuesday, October 8th. The Goldman Sachs Group began coverage on CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. Finally, JPMorgan Chase & Co. lowered CEMEX from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $6.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.87.
Read Our Latest Stock Report on CEMEX
CEMEX Price Performance
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new position in CEMEX during the second quarter worth $33,000. Allworth Financial LP increased its stake in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of CEMEX during the 3rd quarter worth about $77,000. Thoroughbred Financial Services LLC purchased a new position in CEMEX in the 2nd quarter valued at about $81,000. Finally, KCM Investment Advisors LLC acquired a new stake in CEMEX in the 1st quarter worth about $91,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.
About CEMEX
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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.
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