Caesarstone (NASDAQ:CSTE) Upgraded at StockNews.com

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a research note released on Tuesday.

Caesarstone Stock Down 3.6 %

Shares of Caesarstone stock opened at $4.61 on Tuesday. The stock’s fifty day moving average is $4.38 and its two-hundred day moving average is $4.82. Caesarstone has a 52 week low of $3.55 and a 52 week high of $6.81. The company has a market capitalization of $159.19 million, a PE ratio of -2.29 and a beta of 0.17.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSTE. Jane Street Group LLC purchased a new stake in Caesarstone in the 3rd quarter valued at about $55,000. Rhumbline Advisers bought a new stake in shares of Caesarstone during the second quarter valued at approximately $107,000. Acadian Asset Management LLC purchased a new stake in shares of Caesarstone in the second quarter valued at approximately $106,000. Empowered Funds LLC bought a new position in Caesarstone in the third quarter worth approximately $164,000. Finally, 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 worth $198,000 after purchasing an additional 20,271 shares in 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.