Commercial Metals Company (NYSE:CMC) Receives $60.39 Consensus PT from Brokerages

Commercial Metals Company (NYSE:CMC) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $60.3889.

A number of brokerages recently weighed in on CMC. Wall Street Zen lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Bank of America raised their price target on shares of Commercial Metals from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday. Finally, Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 202 shares in the last quarter. Isthmus Partners LLC lifted its stake in Commercial Metals by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock worth $340,000 after purchasing an additional 226 shares in the last quarter. Choreo LLC lifted its stake in Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock worth $509,000 after purchasing an additional 228 shares in the last quarter. Paulson Wealth Management Inc. lifted its stake in Commercial Metals by 5.2% in the 2nd quarter. Paulson Wealth Management Inc. now owns 4,674 shares of the basic materials company’s stock worth $229,000 after purchasing an additional 229 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

NYSE:CMC opened at $57.02 on Wednesday. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $6.38 billion, a PE ratio of 183.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32. The stock’s 50-day moving average price is $57.26 and its 200-day moving average price is $51.02.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.