Constellium (NYSE:CSTM) Price Target Cut to $24.00

Constellium (NYSE:CSTM) had its target price cut by research analysts at JPMorgan Chase & Co. from $25.00 to $24.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 62.05% from the company’s current price.

A number of other brokerages have also recently weighed in on CSTM. Deutsche Bank Aktiengesellschaft dropped their price target on Constellium from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets dropped their price target on Constellium from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $23.80.

Constellium Stock Performance

CSTM stock traded up $0.07 during mid-day trading on Friday, reaching $14.81. The company had a trading volume of 78,053 shares, compared to its average volume of 967,905. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.41 and a beta of 1.59. The stock’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $18.77. Constellium has a one year low of $14.12 and a one year high of $23.20. The company has a quick ratio of 0.60, a current ratio of 1.33 and a debt-to-equity ratio of 1.89.

Constellium (NYSE:CSTM) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.89 billion. Constellium had a net margin of 2.35% and a return on equity of 17.59%. Constellium’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. Research analysts anticipate that Constellium will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Constellium by 81.1% during the 2nd quarter. CWM LLC now owns 1,510 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 676 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Constellium by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 42,134 shares of the industrial products company’s stock valued at $794,000 after buying an additional 698 shares during the last quarter. Signaturefd LLC grew its stake in Constellium by 16.0% in the 2nd quarter. Signaturefd LLC now owns 6,752 shares of the industrial products company’s stock valued at $127,000 after buying an additional 933 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Constellium by 29.9% during the 1st quarter. Advisors Asset Management Inc. now owns 7,065 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 1,625 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Constellium by 7.6% during the 1st quarter. ProShare Advisors LLC now owns 25,680 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 1,822 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

About Constellium

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.