Caesarstone (NASDAQ:CSTE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE) in a report issued on Saturday morning. The brokerage issued a hold rating on the construction company’s stock.

Caesarstone Price Performance

Shares of Caesarstone stock opened at $3.97 on Friday. Caesarstone has a fifty-two week low of $3.76 and a fifty-two week high of $6.81. The firm has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $4.49. The company has a market cap of $137.08 million, a PE ratio of -1.98 and a beta of 0.17.

Hedge Funds Weigh In On Caesarstone

A number of hedge funds have recently made changes to their positions in CSTE. Two Sigma Securities LLC acquired a new position in shares of Caesarstone in the 4th quarter valued at $46,000. Wells Fargo & Company MN raised its stake in shares of Caesarstone by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock valued at $52,000 after buying an additional 2,647 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Caesarstone in the 3rd quarter valued at $55,000. Empowered Funds LLC acquired a new position in shares of Caesarstone in the 3rd quarter valued at $164,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Caesarstone by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after buying an additional 26,705 shares in the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

Caesarstone Company Profile

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.