CEMEX (NYSE:CX) Price Target Cut to $8.00

CEMEX (NYSE:CX) had its target price dropped by equities research analysts at Barclays from $9.00 to $8.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s target price suggests a potential upside of 46.52% from the company’s current price.

A number of other equities analysts have also recently weighed in on CX. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $6.00 in a report on Tuesday. The Goldman Sachs Group began coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Royal Bank of Canada upgraded shares of CEMEX from an “underperform” rating to a “sector perform” rating and cut their target price for the stock from $9.00 to $6.50 in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.78.

CEMEX Trading Down 8.7 %

NYSE CX opened at $5.46 on Tuesday. CEMEX has a 12 month low of $5.34 and a 12 month high of $9.27. The stock has a market capitalization of $7.91 billion, a P/E ratio of 39.00 and a beta of 1.47. The firm’s 50-day moving average is $6.06 and its two-hundred day moving average is $6.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

Hedge Funds Weigh In On CEMEX

A number of institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX during the 2nd quarter worth $33,000. Allworth Financial LP boosted its stake in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of CEMEX during the third quarter worth about $77,000. Thoroughbred Financial Services LLC acquired a new position in CEMEX in the 2nd quarter valued at about $81,000. Finally, KCM Investment Advisors LLC purchased a new stake in CEMEX during the 1st quarter valued at approximately $91,000. 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.