Commercial Metals (NYSE:CMC – Get Rating) had its target price reduced by stock analysts at The Goldman Sachs Group from $42.00 to $38.00 in a research report issued on Tuesday, The Fly reports. The Goldman Sachs Group’s target price would suggest a potential downside of 8.10% from the company’s current price.
CMC has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on Commercial Metals from $47.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 24th. StockNews.com initiated coverage on Commercial Metals in a research report on Thursday, March 31st. They set a “buy” rating on the stock. KeyCorp lowered their price target on Commercial Metals from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Finally, BMO Capital Markets boosted their price target on Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, March 18th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $43.00.
Commercial Metals stock opened at $41.35 on Tuesday. The business has a 50-day simple moving average of $40.73 and a two-hundred day simple moving average of $37.53. The company has a market cap of $5.02 billion, a P/E ratio of 5.64 and a beta of 1.14. Commercial Metals has a 52-week low of $28.76 and a 52-week high of $46.68. The company has a quick ratio of 2.85, a current ratio of 4.23 and a debt-to-equity ratio of 0.50.
Commercial Metals (NYSE:CMC – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.25. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.92 billion. Commercial Metals had a return on equity of 27.25% and a net margin of 11.43%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Research analysts anticipate that Commercial Metals will post 7 EPS for the current fiscal year.
In other news, Director John R. Mcpherson purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were acquired at an average price of $40.55 per share, with a total value of $202,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $202,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Barbara Smith sold 13,582 shares of the company’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $46.46, for a total value of $631,019.72. Following the sale, the chief executive officer now owns 520,203 shares of the company’s stock, valued at $24,168,631.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,582 shares of company stock worth $1,718,106. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new stake in Commercial Metals during the fourth quarter worth about $29,000. CWM LLC lifted its position in shares of Commercial Metals by 222.2% in the first quarter. CWM LLC now owns 828 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 571 shares in the last quarter. Montag A & Associates Inc. purchased a new position in Commercial Metals during the fourth quarter worth approximately $36,000. Geneos Wealth Management Inc. lifted its position in Commercial Metals by 920.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock worth $42,000 after buying an additional 920 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Commercial Metals by 127.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock worth $41,000 after buying an additional 636 shares in the last quarter. Institutional investors own 85.01% of the company’s stock.
Commercial Metals Company Profile (Get Rating)
Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.
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