Cemex (NYSE:CX) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Cemex has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased investor confidence.
• Multiple investment firms, including JPMorgan and Goldman Sachs, have raised their price targets for Cemex, with estimates reaching as high as $11.00.
• As of the latest earnings report, Cemex reported a net margin of 9.61% and earnings per share of $0.23, surpassing analyst expectations.

Cemex (NYSE:CX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

CX has been the topic of a number of other research reports. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. The Goldman Sachs Group lifted their target price on Cemex from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday. Barclays lifted their target price on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Bank of America raised Cemex from a "neutral" rating to a "buy" rating and lifted their target price for the company from $10.00 to $10.80 in a research report on Wednesday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cemex in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cemex has a consensus rating of "Hold" and an average target price of $9.49.

Cemex Price Performance

Cemex stock opened at $9.66 on Friday. The business's 50-day simple moving average is $9.12 and its 200 day simple moving average is $7.60. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 9.47, a P/E/G ratio of 1.39 and a beta of 1.51. Cemex has a 12-month low of $4.89 and a 12-month high of $9.97. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.20 billion. As a group, research analysts anticipate that Cemex will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Archford Capital Strategies LLC boosted its stake in shares of Cemex by 14.2% during the 3rd quarter. Archford Capital Strategies LLC now owns 23,063 shares of the construction company's stock worth $207,000 after acquiring an additional 2,860 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Cemex during the 3rd quarter worth approximately $225,000. Blue Trust Inc. lifted its holdings in Cemex by 28.1% during the 3rd quarter. Blue Trust Inc. now owns 33,592 shares of the construction company's stock worth $302,000 after purchasing an additional 7,370 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Cemex by 231.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,274 shares of the construction company's stock worth $155,000 after purchasing an additional 12,064 shares during the last quarter. Finally, Intergy Private Wealth LLC lifted its holdings in Cemex by 31.2% during the 3rd quarter. Intergy Private Wealth LLC now owns 14,303 shares of the construction company's stock worth $129,000 after purchasing an additional 3,403 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

About Cemex

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.