Caesarstone (NASDAQ:CSTE) Lowered to “Hold” Rating by StockNews.com

Caesarstone (NASDAQ:CSTE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Caesarstone Price Performance

CSTE stock opened at $4.49 on Wednesday. The company’s 50-day moving average is $4.38 and its 200-day moving average is $4.78. The stock has a market capitalization of $155.05 million, a PE ratio of -2.23 and a beta of 0.17. Caesarstone has a 1 year low of $3.55 and a 1 year high of $6.81.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CSTE. Bank of New York Mellon Corp bought a new stake in shares of Caesarstone during the second quarter worth about $293,000. Rhumbline Advisers acquired a new position in Caesarstone during the 2nd quarter valued at about $107,000. Acadian Asset Management LLC bought a new stake in Caesarstone during the 2nd quarter worth approximately $106,000. Empowered Funds LLC purchased a new stake in shares of Caesarstone in the third quarter worth approximately $164,000. Finally, Global Alpha Capital Management Ltd. lifted its holdings in shares of Caesarstone by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after purchasing an additional 48,200 shares in the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.