Caesarstone (NASDAQ:CSTE) Raised to Buy at StockNews.com

Caesarstone (NASDAQ:CSTE) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Caesarstone Price Performance

CSTE stock opened at $4.11 on Tuesday. The business has a 50-day moving average price of $4.38 and a 200 day moving average price of $4.69. The company has a market capitalization of $141.93 million, a P/E ratio of -2.04 and a beta of 0.18. Caesarstone has a 1-year low of $3.76 and a 1-year high of $6.81.

Institutional Trading of Caesarstone

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in Caesarstone by 1.6% in the third 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. Jane Street Group LLC purchased a new position in Caesarstone in the third quarter valued at about $55,000. Barclays PLC grew its stake in Caesarstone by 87.5% in the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after purchasing an additional 20,271 shares during the last quarter. Rhumbline Advisers purchased a new position in Caesarstone in the second quarter valued at about $107,000. Finally, Acadian Asset Management LLC purchased a new position in Caesarstone in the second quarter valued at about $106,000. 33.70% of the stock is currently owned by institutional investors.

About Caesarstone

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.