JPMorgan Chase & Co. Raises Commercial Metals (NYSE:CMC) Price Target to $54.00

Commercial Metals (NYSE:CMC - Get Free Report) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $52.00 to $54.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 4.51% from the company's previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Morgan Stanley set a $57.50 price objective on Commercial Metals in a report on Wednesday, June 25th. UBS Group reissued a "neutral" rating on shares of Commercial Metals in a report on Friday, June 20th. Finally, Jefferies Financial Group reissued 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 issued a buy rating to the company. According to data from MarketBeat.com, Commercial Metals has a consensus rating of "Hold" and a consensus price target of $57.50.

Commercial Metals Price Performance

CMC stock traded down $0.44 during mid-day trading on Monday, reaching $51.67. 132,296 shares of the company traded hands, compared to its average volume of 995,290. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00. The company has a market capitalization of $5.78 billion, a P/E ratio of 166.76, a P/E/G ratio of 2.11 and a beta of 1.26. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a fifty day moving average price of $48.84 and a 200-day moving average price of $47.75.

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 company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. As a group, analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Institutional Trading of Commercial Metals

Several hedge funds and other institutional investors have recently bought and sold shares of CMC. National Bank of Canada FI raised its holdings in shares of Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 244 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at approximately $33,000. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at approximately $34,000. UMB Bank n.a. raised its holdings in shares of Commercial Metals by 51.9% during the first 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. Finally, Wayfinding Financial LLC bought a new position in shares of Commercial Metals during the first quarter valued at approximately $47,000. 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.

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