Commercial Metals (NYSE:CMC) Downgraded by StockNews.com to Hold

Commercial Metals (NYSE:CMC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, BMO Capital Markets raised their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Commercial Metals Price Performance

NYSE CMC opened at $50.74 on Thursday. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81. The stock’s 50-day moving average is $54.95 and its two-hundred day moving average is $53.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The firm has a market cap of $5.87 billion, a P/E ratio of 8.81 and a beta of 1.27.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $1.44 earnings per share. Commercial Metals’s quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts anticipate that Commercial Metals will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the transaction, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMC. Rise Advisors LLC bought a new position in Commercial Metals during the first quarter valued at about $28,000. Daiwa Securities Group Inc. bought a new position in Commercial Metals during the fourth quarter valued at about $30,000. SYSTM Wealth Solutions LLC bought a new position in Commercial Metals during the first quarter valued at about $44,000. Planned Solutions Inc. bought a new position in Commercial Metals during the fourth quarter valued at about $73,000. Finally, GAMMA Investing LLC bought a new position in Commercial Metals during the fourth quarter valued at about $74,000. 86.90% of the stock is currently owned by institutional investors.

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.