Constellium (NYSE:CSTM) Price Target Lowered to $37.00 at Wells Fargo & Company

Constellium (NYSE:CSTM) had its price objective lowered by investment analysts at Wells Fargo & Company from $39.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 25.03% from the stock’s previous close.

A number of other brokerages also recently commented on CSTM. BMO Capital Markets set a $32.00 target price on shares of Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Zacks Research downgraded shares of Constellium from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings cut shares of Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $40.00 target price on shares of Constellium in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Constellium in a report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Constellium has a consensus rating of “Moderate Buy” and an average price target of $35.60.

Constellium Stock Performance

Shares of NYSE:CSTM opened at $29.59 on Thursday. The firm has a 50 day moving average of $33.07 and a 200 day moving average of $27.45. The company has a quick ratio of 0.60, a current ratio of 1.39 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 9.58 and a beta of 1.55. Constellium has a 52 week low of $13.04 and a 52 week high of $36.99.

Constellium (NYSE:CSTM) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.80. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.43 billion. Constellium had a return on equity of 46.22% and a net margin of 4.87%.The business’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. On average, sell-side analysts predict that Constellium will post 3.34 earnings per share for the current fiscal year.

Constellium declared that its board has initiated a share buyback program on Thursday, March 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Constellium

In other news, Director John Ormerod sold 8,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.01, for a total transaction of $280,080.00. Following the sale, the director directly owned 24,873 shares of the company’s stock, valued at $870,803.73. The trade was a 24.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ludovic Piquier sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $33.57, for a total value of $33,570.00. Following the sale, the senior vice president owned 241,713 shares in the company, valued at approximately $8,114,305.41. The trade was a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 195,153 shares of company stock valued at $6,369,312. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Constellium

A number of hedge funds have recently added to or reduced their stakes in CSTM. Ethic Inc. boosted its stake in shares of Constellium by 1.6% during the 4th quarter. Ethic Inc. now owns 29,283 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 456 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Constellium by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 132,642 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 512 shares in the last quarter. Summit Global Investments raised its holdings in Constellium by 1.7% in the 1st quarter. Summit Global Investments now owns 33,799 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 554 shares during the period. Moran Wealth Management LLC raised its holdings in Constellium by 6.7% in the 1st quarter. Moran Wealth Management LLC now owns 11,025 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 692 shares during the period. Finally, GAMMA Investing LLC boosted its position in Constellium by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 707 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.