Cemex (NYSE:CX) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Cemex (NYSE:CX) had its price target raised by equities researchers at JPMorgan Chase & Co. from $14.50 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 26.10% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a research note on Friday, April 24th. Morgan Stanley raised shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Monday, March 23rd. Santander raised shares of Cemex to an “outperform” rating in a research report on Thursday, June 11th. Barclays restated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.83.

Cemex Stock Performance

CX traded down $0.21 on Wednesday, hitting $11.89. The company’s stock had a trading volume of 570,004 shares, compared to its average volume of 5,988,797. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. Cemex has a 12 month low of $7.17 and a 12 month high of $13.67. The firm has a market cap of $17.23 billion, a P/E ratio of 37.15 and a beta of 1.52. The company’s 50 day simple moving average is $12.64 and its 200-day simple moving average is $12.15.

Cemex (NYSE:CX) last issued its earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Analysts forecast that Cemex will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the sale, the insider directly owned 846,010 shares of the company’s stock, valued at $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cemex

A number of institutional investors and hedge funds have recently bought and sold shares of the business. WealthCollab LLC raised its stake in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Ameriflex Group Inc. boosted its position in shares of Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after acquiring an additional 1,744 shares during the last quarter. NFSG Corp increased its holdings in Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Cemex during the 4th quarter valued at about $34,000. 82.97% of the stock is owned by institutional investors.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.