CEMEX (NYSE:CX) Stock Rating Lowered by Royal Bank of Canada

CEMEX (NYSE:CX) was downgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued on Wednesday,Finviz reports. They currently have a $5.00 target price on the construction company’s stock, down from their previous target price of $6.00. Royal Bank of Canada’s target price indicates a potential downside of 12.89% from the company’s current price.

CX has been the subject of several other reports. Scotiabank decreased their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.65.

CEMEX Trading Down 1.4 %

Shares of CX opened at $5.74 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 19.13 and a beta of 1.50. The company has a 50-day moving average of $5.69 and a 200 day moving average of $6.15. CEMEX has a 1-year low of $5.00 and a 1-year high of $9.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CX. Sanctuary Advisors LLC raised its stake in CEMEX by 46.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock worth $319,000 after acquiring an additional 16,585 shares during the last quarter. Barclays PLC boosted its position in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after buying an additional 1,843 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in CEMEX in the 3rd quarter worth approximately $9,037,000. MML Investors Services LLC raised its position in CEMEX by 65.8% during the 3rd quarter. MML Investors Services LLC now owns 20,706 shares of the construction company’s stock worth $126,000 after buying an additional 8,221 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in CEMEX by 39.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,087 shares of the construction company’s stock valued at $92,000 after acquiring an additional 4,306 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.