Commercial Metals (NYSE:CMC) Downgraded by BNP Paribas to “Neutral”

Commercial Metals (NYSE:CMC) was downgraded by BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group reiterated a “sell” rating and issued a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Morgan Stanley began coverage on shares of Commercial Metals in a report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Commercial Metals has an average rating of “Hold” and an average price target of $65.33.

Commercial Metals Trading Down 0.9 %

Shares of Commercial Metals stock opened at $49.15 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm has a 50-day moving average of $57.13 and a 200-day moving average of $54.98. Commercial Metals has a 52-week low of $47.42 and a 52-week high of $64.53. The stock has a market cap of $5.60 billion, a PE ratio of 11.87, a PEG ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, sell-side analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Hedge Funds Weigh In On Commercial Metals

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in shares of Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares in the last quarter. Vestcor Inc lifted its stake in Commercial Metals by 108.0% in the third quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock valued at $995,000 after buying an additional 9,400 shares during the period. Seizert Capital Partners LLC boosted its holdings in shares of Commercial Metals by 32.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 18,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after acquiring an additional 18,262 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Commercial Metals by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock valued at $2,000,000 after acquiring an additional 17,010 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.