Constellium (NYSE:CSTM) Stock Rated "Equal Weight" in New Coverage at Barclays

Key Points

• Barclays initiated coverage of Constellium with an “equal weight” rating and a $28 price target, implying approximately 12.16% upside from the reported $24.97 share price.
• Analyst sentiment remains generally positive, with four Buy and four Hold ratings; the consensus is “Moderate Buy” with an average price target of $33.33.
• Constellium’s latest quarterly results exceeded expectations, reporting $1.04 in EPS versus a $0.86 estimate and $2.75 billion in revenue, up 30.7% year over year.

Equities researchers at Barclays initiated coverage on shares of Constellium (NYSE:CSTM - Get Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set an "equal weight" rating and a $28.00 price target on the industrial products company's stock. Barclays's price objective indicates a potential upside of 12.16% from the stock's current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Constellium from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Constellium in a research note on Monday, September 28th. UBS Group reduced their price target on Constellium from $34.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Wells Fargo & Company reduced their target price on shares of Constellium from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellium from $39.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

Constellium Stock Performance

Constellium stock traded down $0.41 during midday trading on Wednesday, reaching $24.97. 40,549 shares of the stock traded hands, compared to its average volume of 1,953,160. Constellium has a fifty-two week low of $14.62 and a fifty-two week high of $36.99. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 6.42 and a beta of 1.57. The firm has a fifty day moving average price of $26.54 and a two-hundred day moving average price of $29.49. The company has a current ratio of 1.43, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50.

Constellium (NYSE:CSTM - Get Free Report) last released its earnings results on Wednesday, July 29th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.73 billion. Constellium had a net margin of 5.69% and a return on equity of 51.66%. Constellium's quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. On average, equities research analysts forecast that Constellium will post 3.79 earnings per share for the current year.

Insider Activity at Constellium

In other Constellium news, Director Jean-Christophe Deslarzes bought 1,490 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average price of $27.24 per share, with a total value of $40,587.60. Following the completion of the purchase, the director directly owned 43,515 shares in the company, valued at $1,185,348.60. The trade was a 3.55% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Constellium

Several institutional investors have recently added to or reduced their stakes in CSTM. B. Riley Wealth Advisors Inc. bought a new stake in shares of Constellium in the third quarter valued at approximately $333,000. Contravisory Investment Management Inc. raised its position in shares of Constellium by 10.3% in the 3rd quarter. Contravisory Investment Management Inc. now owns 17,117 shares of the industrial products company's stock valued at $414,000 after buying an additional 1,598 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in Constellium by 6.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 8,431 shares of the industrial products company's stock valued at $216,000 after purchasing an additional 499 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Constellium by 12.5% in the 3rd quarter. GAMMA Investing LLC now owns 4,010 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 447 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Constellium by 181.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 14,088 shares of the industrial products company's stock worth $341,000 after buying an additional 9,078 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Constellium Company Profile

Constellium SE NYSE: CSTM is a global manufacturer of advanced aluminum products and solutions. The company develops, engineers and produces aluminum rolled, extruded and shaped products for customers in the aerospace, automotive, packaging and industrial markets.

Its products include aluminum sheets, plates, coils, extrusions, structural components and automotive body systems. Constellium also supplies aluminum products used in beverage cans, bottles and other packaging applications, as well as components for aircraft structures, automotive vehicles, commercial transportation and industrial equipment.

Constellium serves customers through manufacturing and research operations across Europe, North America and Asia.