CEMEX (NYSE:CX) Stock Rating Lowered by Bank of America

CEMEX (NYSE:CX) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $9.00 price objective on the construction company’s stock. Bank of America‘s price objective suggests a potential upside of 10.02% from the company’s current price.

A number of other analysts have also commented on the company. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th. Barclays lowered CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price target on the stock. in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.37.

CEMEX Stock Up 0.7 %

CX opened at $8.18 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $11.85 billion, a P/E ratio of 68.17, a PEG ratio of 0.16 and a beta of 1.47. CEMEX has a 52 week low of $5.67 and a 52 week high of $9.27. The business’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $7.61.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. As a group, equities research analysts anticipate that CEMEX will post 0.88 EPS for the current fiscal year.

Institutional Trading of CEMEX

Hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. lifted its stake in shares of CEMEX by 4.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 8,764,242 shares of the construction company’s stock valued at $56,968,000 after purchasing an additional 373,246 shares in the last quarter. Raymond James & Associates lifted its stake in shares of CEMEX by 37.4% in the 3rd quarter. Raymond James & Associates now owns 50,402 shares of the construction company’s stock valued at $328,000 after purchasing an additional 13,718 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of CEMEX in the 3rd quarter valued at about $95,000. Calamos Wealth Management LLC lifted its stake in shares of CEMEX by 4.2% in the 3rd quarter. Calamos Wealth Management LLC now owns 150,396 shares of the construction company’s stock valued at $978,000 after purchasing an additional 6,046 shares in the last quarter. Finally, RWC Asset Advisors US LLC lifted its stake in shares of CEMEX by 8.4% in the 3rd quarter. RWC Asset Advisors US LLC now owns 8,615,365 shares of the construction company’s stock valued at $56,000,000 after purchasing an additional 668,425 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

CEMEX Company Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.