Commercial Metals (NYSE:CMC) PT Raised to $39.00

Commercial Metals (NYSE:CMCGet Rating) had its target price upped by equities researchers at Credit Suisse Group from $37.00 to $39.00 in a note issued to investors on Friday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Credit Suisse Group’s price objective points to a potential upside of 9.98% from the stock’s current price.

CMC has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their price objective on Commercial Metals from $55.00 to $54.00 in a report on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Commercial Metals from $42.00 to $38.00 in a research note on Tuesday, May 31st. StockNews.com assumed coverage on shares of Commercial Metals in a research note on Thursday, March 31st. They issued a “buy” rating for the company. KeyCorp upped their price objective on shares of Commercial Metals from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, June 7th. Finally, BMO Capital Markets increased their target price on shares of Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Friday, March 18th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.56.

Commercial Metals stock opened at $35.46 on Friday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 4.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.23 and a quick ratio of 2.85. The business has a fifty day moving average price of $40.07 and a 200-day moving average price of $37.94. Commercial Metals has a 1-year low of $28.76 and a 1-year high of $46.68.

Commercial Metals (NYSE:CMCGet Rating) last announced its quarterly earnings results on Thursday, June 16th. The basic materials company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $1.14. Commercial Metals had a return on equity of 27.25% and a net margin of 11.43%. During the same period last year, the firm posted $1.04 earnings per share. On average, equities research analysts anticipate that Commercial Metals will post 7.18 earnings per share for the current fiscal year.

In other Commercial Metals news, Director John R. Mcpherson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The stock was acquired at an average cost of $40.55 per share, with a total value of $202,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $202,750. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Barbara Smith sold 13,582 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $46.46, for a total transaction of $631,019.72. Following the transaction, the chief executive officer now directly owns 520,203 shares of the company’s stock, valued at $24,168,631.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,582 shares of company stock valued at $1,718,106. 1.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMC. National Bank of Canada FI acquired a new position in shares of Commercial Metals in the 4th quarter valued at $29,000. CWM LLC boosted its holdings in shares of Commercial Metals by 222.2% in the 1st quarter. CWM LLC now owns 828 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 571 shares during the last quarter. Montag A & Associates Inc. acquired a new position in shares of Commercial Metals in the 4th quarter valued at $36,000. Geneos Wealth Management Inc. boosted its holdings in shares of Commercial Metals by 920.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 920 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Commercial Metals by 127.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 636 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.

About Commercial Metals (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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