Commercial Metals (NYSE:CMC) Rating Increased to Outperform at Wolfe Research

Commercial Metals (NYSE:CMC - Get Free Report) was upgraded by research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $50.00 target price on the basic materials company's stock. Wolfe Research's price objective would suggest a potential upside of 6.04% from the company's previous close.

A number of other brokerages have also weighed in on CMC. Morgan Stanley decreased their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. BMO Capital Markets decreased their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Finally, UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Commercial Metals presently has an average rating of "Hold" and a consensus target price of $58.86.

Commercial Metals Trading Up 0.5%

Commercial Metals stock traded up $0.22 during midday trading on Tuesday, reaching $47.15. The stock had a trading volume of 793,823 shares, compared to its average volume of 963,928. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company has a fifty day moving average of $45.02 and a 200 day moving average of $49.81.

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 analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. On average, analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This trade represents a 19.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Institutional Trading of Commercial Metals

A number of institutional investors and hedge funds have recently modified their holdings of CMC. National Bank of Canada FI grew its stake in shares of 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 during the period. Park Square Financial Group LLC acquired a new position in Commercial Metals in the 4th quarter valued at about $33,000. Heck Capital Advisors LLC acquired a new position in Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC increased its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares during the period. Finally, UMB Bank n.a. increased its holdings in Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares in the last quarter. Hedge funds and other 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.