Caesarstone (NASDAQ:CSTE) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a report issued on Wednesday morning.

Caesarstone Trading Up 1.6 %

Caesarstone stock opened at $4.49 on Wednesday. The company has a 50-day moving average price of $4.38 and a 200 day moving average price of $4.78. Caesarstone has a 12-month low of $3.55 and a 12-month high of $6.81. The stock has a market cap of $155.05 million, a P/E ratio of -2.23 and a beta of 0.17.

Institutional Trading of Caesarstone

Several institutional investors have recently made changes to their positions in the company. Global Alpha Capital Management Ltd. grew its position in Caesarstone by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after acquiring an additional 48,200 shares during the period. State Street Corp lifted its stake in shares of Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Caesarstone during the 2nd quarter worth $293,000. BNP Paribas Financial Markets grew its holdings in shares of Caesarstone by 1,206.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after purchasing an additional 43,129 shares during the period. Finally, Barclays PLC increased its position in shares of Caesarstone by 87.5% during the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after purchasing an additional 20,271 shares during the last quarter. Hedge funds and other 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.