Commercial Metals (NYSE:CMC) Given New $49.00 Price Target at UBS Group

Commercial Metals (NYSE:CMC) had its price target cut by research analysts at UBS Group from $54.00 to $49.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price target points to a potential upside of 1.05% from the company’s current price.

A number of other brokerages also recently commented on CMC. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. BMO Capital Markets reduced their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley dropped their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Stock Up 2.4 %

Shares of NYSE:CMC opened at $48.49 on Monday. The business’s 50 day simple moving average is $48.86 and its two-hundred day simple moving average is $52.75. The firm has a market cap of $5.51 billion, a P/E ratio of 43.79, a PEG ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CMC. Park Square Financial Group LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC increased its holdings in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. purchased a new position in shares of Commercial Metals during the 4th quarter worth approximately $73,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.