StockNews.com Lowers CEMEX (NYSE:CX) to Buy

CEMEX (NYSE:CX) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price on the stock. Royal Bank of Canada raised CEMEX from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from $9.00 to $6.50 in a research report on Tuesday. Finally, Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.12.

CEMEX Stock Down 0.2 %

Shares of CEMEX stock traded down $0.02 on Friday, hitting $6.15. 11,942,476 shares of the company traded hands, compared to its average volume of 8,458,995. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. CEMEX has a 12-month low of $5.50 and a 12-month high of $9.27. The company has a 50-day moving average price of $6.17 and a 200 day moving average price of $6.95. The company has a market cap of $8.90 billion, a PE ratio of 51.21 and a beta of 1.47.

CEMEX (NYSE:CX) last issued its earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The firm had revenue of $4.49 billion for the quarter. Sell-side analysts predict that CEMEX will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On CEMEX

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after purchasing an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC boosted its position in shares of CEMEX by 32.3% during the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock valued at $99,398,000 after acquiring an additional 3,796,262 shares in the last quarter. Perpetual Ltd increased its stake in CEMEX by 12.6% in the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after acquiring an additional 1,117,379 shares during the period. Moneda S.A. Administradora General de Fondos raised its position in CEMEX by 92.1% in the first quarter. Moneda S.A. Administradora General de Fondos now owns 2,040,397 shares of the construction company’s stock worth $18,384,000 after purchasing an additional 978,264 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in CEMEX by 6,721.1% in the second quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company’s stock worth $5,546,000 after purchasing an additional 855,122 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Company Profile

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.