Commercial Metals (NYSE:CMC) Given New $49.00 Price Target at UBS Group

Commercial Metals (NYSE:CMC) had its price target cut by equities researchers at UBS Group from $54.00 to $49.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price target would indicate a potential upside of 1.05% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group decreased their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. BMO Capital Markets decreased their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Up 2.4 %

NYSE:CMC opened at $48.49 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The company has a market cap of $5.51 billion, a PE ratio of 43.79, a PEG ratio of 2.62 and a beta of 1.17. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53. The stock has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $52.75.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently made changes to their positions in CMC. Park Square Financial Group LLC acquired a new stake in shares of Commercial Metals in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC boosted its position in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. bought a new stake in shares of Commercial Metals during the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.