Caesarstone (NASDAQ:CSTE) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the construction company’s stock.

Caesarstone Trading Down 3.1 %

Shares of NASDAQ:CSTE opened at $3.12 on Tuesday. The firm has a market cap of $107.79 million, a PE ratio of -1.55 and a beta of 0.10. The company has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $4.34. Caesarstone has a 12-month low of $3.05 and a 12-month high of $6.81.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $97.86 million for the quarter, compared to the consensus estimate of $99.40 million. Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. During the same period in the previous year, the business posted ($0.28) EPS.

Hedge Funds Weigh In On Caesarstone

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Caesarstone during the third quarter worth $164,000. Global Alpha Capital Management Ltd. grew its stake in Caesarstone by 1.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after buying an additional 48,200 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Caesarstone by 1,206.4% during the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after acquiring an additional 43,129 shares during the period. State Street Corp lifted its position in Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Caesarstone in the third quarter valued at approximately $55,000. 33.70% of the stock is currently owned by institutional investors.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.