Commercial Metals (NYSE:CMC) Downgraded to "Hold" Rating by Wall Street Zen

Commercial Metals (NYSE:CMC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company lifted their price objective on Commercial Metals from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. BMO Capital Markets reissued a "market perform" rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research note on Wednesday, June 25th. UBS Group lifted their price objective on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.39.

Commercial Metals Stock Down 0.2%

Shares of CMC opened at $58.56 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The stock's 50 day moving average is $56.60 and its two-hundred day moving average is $50.65. The firm has a market cap of $6.55 billion, a P/E ratio of 188.90, a PEG ratio of 2.05 and a beta of 1.32.

Institutional Investors Weigh In On Commercial Metals

A number of institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI lifted its stake in Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after buying an additional 244 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company's stock valued at $34,000 after buying an additional 511 shares in the last quarter. UMB Bank n.a. lifted its stake in Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after buying an additional 268 shares in the last quarter. Signaturefd LLC lifted its stake in Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company's stock valued at $44,000 after buying an additional 302 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Commercial Metals in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds 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.

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