Commercial Metals (NYSE:CMC – Get Rating) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $43.78.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group upped their price objective on Commercial Metals from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, June 17th. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. The Goldman Sachs Group decreased their price objective on Commercial Metals from $42.00 to $38.00 in a research note on Tuesday, May 31st. Citigroup upped their price objective on Commercial Metals to $42.00 in a research note on Tuesday, September 13th. Finally, KeyCorp decreased their price objective on Commercial Metals from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th.
Commercial Metals Price Performance
Shares of CMC stock opened at $37.59 on Monday. Commercial Metals has a twelve month low of $28.76 and a twelve month high of $46.68. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 4.27 and a beta of 1.22. The stock has a fifty day simple moving average of $39.49 and a two-hundred day simple moving average of $39.42. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.36.
Commercial Metals (NYSE:CMC – Get Rating) last issued its earnings results on Thursday, June 16th. The basic materials company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.52. Commercial Metals had a return on equity of 31.92% and a net margin of 12.66%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business earned $1.04 EPS. On average, analysts predict that Commercial Metals will post 7.95 EPS for the current fiscal year.
Insider Transactions at Commercial Metals
In other Commercial Metals news, SVP Ty L. Garrison sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $39.28, for a total transaction of $785,600.00. Following the transaction, the senior vice president now owns 114,609 shares in the company, valued at $4,501,841.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.
Hedge Funds Weigh In On Commercial Metals
A number of hedge funds have recently bought and sold shares of CMC. Ronald Blue Trust Inc. purchased a new position in shares of Commercial Metals in the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA purchased a new position in shares of Commercial Metals in the second quarter valued at approximately $33,000. 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. Triasima Portfolio Management inc. lifted its position in shares of Commercial Metals by 48.3% in the second quarter. Triasima Portfolio Management inc. now owns 1,075 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Commercial Metals in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.
Commercial Metals Company Profile
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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