Caesarstone (NASDAQ:CSTE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a report issued on Saturday.

Caesarstone Trading Down 1.6 %

NASDAQ:CSTE opened at $4.40 on Friday. Caesarstone has a 1-year low of $3.76 and a 1-year high of $6.81. The firm has a market capitalization of $151.94 million, a price-to-earnings ratio of -2.19 and a beta of 0.17. The business’s 50-day moving average price is $4.38 and its two-hundred day moving average price is $4.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of Caesarstone during the third quarter worth $55,000. Acadian Asset Management LLC acquired a new stake in Caesarstone during the 2nd quarter worth $106,000. Rhumbline Advisers bought a new position in Caesarstone during the second quarter worth about $107,000. Empowered Funds LLC acquired a new position in Caesarstone in the third quarter valued at about $164,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Caesarstone by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after acquiring an additional 26,705 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.