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

StockNews.com downgraded shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a research report report published 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 Trading Down 1.8 %

Shares of CSTE opened at $4.25 on Tuesday. The business’s 50-day moving average price is $4.46 and its 200 day moving average price is $5.12. The stock has a market capitalization of $146.76 million, a P/E ratio of -2.21 and a beta of 0.14. Caesarstone has a 1-year low of $3.50 and a 1-year high of $6.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSTE. Gladius Capital Management LP acquired a new stake in Caesarstone during the 2nd quarter worth about $28,000. Acadian Asset Management LLC acquired a new stake in shares of Caesarstone during the second quarter worth approximately $106,000. Rhumbline Advisers purchased a new position in Caesarstone during the second quarter valued at approximately $107,000. Empowered Funds LLC purchased a new stake in Caesarstone in the 3rd quarter worth approximately $164,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Caesarstone during the 2nd quarter valued at $293,000. 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.