Wall Street Zen Upgrades Caesarstone (NASDAQ:CSTE) to "Hold"

Key Points

• Wall Street Zen upgraded Caesarstone from “strong sell” to “hold,” but Weiss Ratings maintained a “sell (D-)” rating; the overall analyst consensus remains “Sell.”
• Caesarstone shares opened at $2.30, with a market capitalization of approximately $79.5 million and a 52-week range of $0.56 to $2.62.
• The company reported a quarterly loss of $0.10 per share, beating estimates for a $0.26 loss, while revenue of $96.55 million fell short of expectations and profitability remained negative.

Caesarstone (NASDAQ:CSTE - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Caesarstone in a report on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Caesarstone Stock Performance

CSTE stock opened at $2.30 on Friday. The company has a market capitalization of $79.51 million, a PE ratio of -0.56 and a beta of 0.37. Caesarstone has a one year low of $0.56 and a one year high of $2.62. The company's 50 day moving average price is $2.08 and its two-hundred day moving average price is $1.75.

Caesarstone (NASDAQ:CSTE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.16. Caesarstone had a negative net margin of 37.37% and a negative return on equity of 32.36%. The company had revenue of $96.55 million during the quarter, compared to analysts' expectations of $102.50 million.

Hedge Funds Weigh In On Caesarstone

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Caesarstone in the 2nd quarter worth approximately $263,000. Citadel Advisors LLC boosted its stake in Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock valued at $101,000 after purchasing an additional 39,474 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Caesarstone by 10.7% in the 1st quarter. Empowered Funds LLC now owns 58,008 shares of the construction company's stock worth $62,000 after purchasing an additional 5,584 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Caesarstone in the 2nd quarter worth $56,000. Finally, Virtu Financial LLC purchased a new position in shares of Caesarstone in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 33.70% of the company's stock.

About Caesarstone

Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company's core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone's products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.

Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.

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