Caesarstone (NASDAQ:CSTE) Share Price Passes Above 200-Day Moving Average of $4.13

Caesarstone Ltd. (NASDAQ:CSTE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.13 and traded as high as $5.87. Caesarstone shares last traded at $5.45, with a volume of 66,158 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus cut their price target on shares of Caesarstone from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Tuesday, December 19th. StockNews.com cut shares of Caesarstone from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.

Caesarstone Stock Down 3.9 %

The business’s 50 day moving average price is $4.30 and its 200-day moving average price is $4.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.51. The company has a market cap of $188.19 million, a P/E ratio of -1.74 and a beta of 0.40.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $128.53 million during the quarter, compared to analyst estimates of $124.94 million. Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. During the same period in the prior year, the business earned ($0.03) EPS. On average, analysts anticipate that Caesarstone Ltd. will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of Caesarstone

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its holdings in shares of Caesarstone by 113.5% in the third quarter. UBS Group AG now owns 3,185 shares of the construction company’s stock valued at $30,000 after purchasing an additional 1,693 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Caesarstone in the third quarter valued at approximately $45,000. Deutsche Bank AG grew its holdings in Caesarstone by 47.5% during the 1st quarter. Deutsche Bank AG now owns 13,821 shares of the construction company’s stock worth $57,000 after acquiring an additional 4,454 shares during the period. Virtu Financial LLC acquired a new stake in Caesarstone during the 4th quarter worth $58,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Caesarstone during the 4th quarter worth $67,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.