Zacks Research Downgrades Constellium (NYSE:CSTM) to Hold

Constellium (NYSE:CSTM) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. Weiss Ratings raised shares of Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. BMO Capital Markets set a $32.00 price target on shares of Constellium and gave the company an “outperform” rating in a report on Thursday, April 9th. UBS Group started coverage on shares of Constellium in a report on Tuesday, May 5th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $40.00 price target on shares of Constellium in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Constellium Trading Up 2.2%

Shares of NYSE CSTM opened at $31.84 on Monday. Constellium has a one year low of $13.04 and a one year high of $36.99. The firm has a market capitalization of $4.33 billion, a PE ratio of 10.30 and a beta of 1.55. The company has a current ratio of 1.39, a quick ratio of 0.60 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average price of $33.17 and a two-hundred day moving average price of $26.97.

Constellium (NYSE:CSTM) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.80. The company 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 firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, analysts predict that Constellium will post 3.34 earnings per share for the current fiscal year.

Constellium announced that its Board of Directors has approved a stock buyback plan on Thursday, March 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Constellium

In related news, Director Michiel Brandjes sold 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $31.25, for a total transaction of $325,000.00. Following the transaction, the director owned 41,600 shares of the company’s stock, valued at approximately $1,300,000. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicolas Brun sold 26,661 shares of Constellium stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $33.85, for a total transaction of $902,474.85. Following the completion of the sale, the senior vice president owned 104,891 shares of the company’s stock, valued at $3,550,560.35. This trade represents a 20.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 195,153 shares of company stock valued at $6,369,312 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellium

Large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Constellium by 100.1% during the first quarter. Bank of America Corp DE now owns 851,222 shares of the industrial products company’s stock worth $20,923,000 after buying an additional 425,871 shares during the last quarter. Edgestream Partners L.P. lifted its position in shares of Constellium by 9.9% in the first quarter. Edgestream Partners L.P. now owns 226,292 shares of the industrial products company’s stock worth $5,562,000 after buying an additional 20,370 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Constellium by 775.9% in the first quarter. Janus Henderson Group PLC now owns 439,301 shares of the industrial products company’s stock worth $10,797,000 after buying an additional 389,147 shares during the last quarter. Amundi bought a new stake in shares of Constellium during the 1st quarter worth about $218,000. Finally, California State Teachers Retirement System boosted its stake in shares of Constellium by 24.0% during the 1st quarter. California State Teachers Retirement System now owns 145,732 shares of the industrial products company’s stock worth $3,582,000 after acquiring an additional 28,191 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Constellium Company Profile

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.