Commercial Metals (NYSE:CMC) Now Covered by JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. began coverage on shares of Commercial Metals (NYSE:CMC - Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The firm set a "neutral" rating and a $52.00 price target on the basic materials company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 11.49% from the company's current price.

Other research analysts have also issued reports about the company. 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. UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. BMO Capital Markets decreased their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Finally, Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.00.

Commercial Metals Stock Performance

Commercial Metals stock traded down $0.49 during trading hours on Friday, reaching $46.64. 1,362,153 shares of the company were exchanged, compared to its average volume of 966,670. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 2.62 and a beta of 1.29. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $44.95 and a 200 day moving average of $49.52. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53.

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

Insider Transactions at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in Commercial Metals in the 1st quarter valued at approximately $1,408,000. Intech Investment Management LLC increased its position in shares of Commercial Metals by 11.8% during the 1st quarter. Intech Investment Management LLC now owns 57,994 shares of the basic materials company's stock worth $2,668,000 after purchasing an additional 6,144 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Commercial Metals by 94.9% during the 1st quarter. Bayforest Capital Ltd now owns 9,052 shares of the basic materials company's stock worth $416,000 after purchasing an additional 4,407 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Commercial Metals by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,580 shares of the basic materials company's stock worth $15,624,000 after purchasing an additional 9,526 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Commercial Metals by 1.8% during the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company's stock worth $2,453,000 after acquiring an additional 941 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Company Profile

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.