CEMEX (NYSE:CX) Price Target Cut to $8.00 by Analysts at Barclays

CEMEX (NYSE:CX) had its price target cut by Barclays from $9.00 to $8.00 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

CX has been the topic of a number of other reports. Royal Bank of Canada raised CEMEX from an “underperform” rating to a “sector perform” rating and lowered their price target for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a report on Tuesday. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group initiated coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.87.

CEMEX Price Performance

Shares of NYSE:CX opened at $5.19 on Tuesday. The firm’s 50 day simple moving average is $5.99 and its two-hundred day simple moving average is $6.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.65. The company has a market capitalization of $7.51 billion, a P/E ratio of 17.28 and a beta of 1.47. CEMEX has a 1-year low of $5.17 and a 1-year high of $9.27.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s payout ratio is 13.33%.

Institutional Trading of CEMEX

Several institutional investors and hedge funds have recently made changes to their positions in CX. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX in the 2nd quarter valued at $33,000. Allworth Financial LP raised its holdings in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of CEMEX during the third quarter valued at about $77,000. Thoroughbred Financial Services LLC purchased a new stake in shares of CEMEX during the second quarter valued at about $81,000. Finally, KCM Investment Advisors LLC bought a new stake in shares of CEMEX in the 1st quarter valued at about $91,000. 82.97% of the stock is currently owned by institutional investors.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.