Commercial Metals (NYSE:CMC) Earns Market Perform Rating from BMO Capital Markets

Commercial Metals (NYSE:CMC - Get Free Report)'s stock had its "market perform" rating restated by research analysts at BMO Capital Markets in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $55.00 target price on the basic materials company's stock, down from their prior target price of $57.00. BMO Capital Markets' price target points to a potential upside of 9.80% from the company's current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. assumed coverage on Commercial Metals in a research report on Friday, May 30th. They issued a "neutral" rating and a $52.00 price objective on the stock. UBS Group reaffirmed a "neutral" rating on shares of Commercial Metals in a research note on Friday, June 20th. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Morgan Stanley reissued an "equal weight" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.21.

Commercial Metals Trading Up 0.0%

CMC traded up $0.00 during trading on Tuesday, hitting $50.09. 716,527 shares of the stock traded hands, compared to its average volume of 990,371. The firm has a market capitalization of $5.61 billion, a P/E ratio of 161.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 1.94. The firm has a 50-day moving average of $47.19 and a 200 day moving average of $48.03.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. Equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Institutional Trading of Commercial Metals

Several hedge funds and other institutional investors have recently made changes to their positions in CMC. Voya Investment Management LLC raised its position in shares of Commercial Metals by 16.8% in the 1st quarter. Voya Investment Management LLC now owns 111,674 shares of the basic materials company's stock worth $5,138,000 after purchasing an additional 16,084 shares during the last quarter. Cim LLC increased its stake in Commercial Metals by 2.3% during the 1st quarter. Cim LLC now owns 42,762 shares of the basic materials company's stock valued at $1,967,000 after purchasing an additional 978 shares in the last quarter. Strs Ohio purchased a new position in Commercial Metals in the first quarter worth about $1,408,000. Intech Investment Management LLC lifted its stake in shares of Commercial Metals by 11.8% in the first quarter. Intech Investment Management LLC now owns 57,994 shares of the basic materials company's stock worth $2,668,000 after buying an additional 6,144 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Commercial Metals by 94.9% in the first quarter. Bayforest Capital Ltd now owns 9,052 shares of the basic materials company's stock worth $416,000 after buying an additional 4,407 shares in the last quarter. 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.