Caesarstone (NASDAQ:CSTE) Share Price Crosses Above 200 Day Moving Average of $4.07

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.07 and traded as high as $5.00. Caesarstone shares last traded at $4.97, with a volume of 133,844 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSTE. Stifel Nicolaus dropped their target price on shares of Caesarstone from $5.50 to $5.00 and set a "hold" rating on the stock in a research report on Tuesday, December 19th. StockNews.com lowered shares of Caesarstone from a "buy" rating to a "hold" rating in a research report on Thursday, February 22nd.

Caesarstone Trading Up 14.1 %

The company's 50 day moving average price is $4.14 and its two-hundred day moving average price is $4.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.51. The stock has a market capitalization of $195.79 million, a PE ratio of -1.81 and a beta of 0.40.

Caesarstone (NASDAQ:CSTE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The construction company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The business had revenue of $128.53 million during the quarter, compared to analysts' expectations of $124.94 million. Caesarstone had a negative return on equity of 12.71% and a negative net margin of 19.05%. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, analysts expect that Caesarstone Ltd. will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Caesarstone

Several hedge funds and other institutional investors have recently modified their holdings of CSTE. Virtu Financial LLC purchased a new position in Caesarstone during the fourth quarter worth about $58,000. Barclays PLC raised its stake in Caesarstone by 59.1% during the fourth quarter. Barclays PLC now owns 35,935 shares of the construction company's stock worth $134,000 after purchasing an additional 13,344 shares during the period. Balyasny Asset Management L.P. purchased a new position in Caesarstone during the fourth quarter worth about $67,000. Northern Trust Corp purchased a new position in Caesarstone during the fourth quarter worth about $84,000. Finally, Marquette Asset Management LLC purchased a new position in Caesarstone during the fourth quarter worth about $113,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.