Commercial Metals (NYSE:CMC) Stock Rating Lowered by StockNews.com

Commercial Metals (NYSE:CMCGet Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Several other brokerages have also commented on CMC. JPMorgan Chase & Co. decreased their price target on Commercial Metals from $55.00 to $54.00 in a research note on Tuesday, June 14th. The Goldman Sachs Group dropped their price objective on Commercial Metals from $42.00 to $38.00 in a report on Tuesday, May 31st. BMO Capital Markets upped their price target on shares of Commercial Metals from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Friday, March 18th. Credit Suisse Group upped their price target on shares of Commercial Metals from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Citigroup decreased their price target on shares of Commercial Metals from $44.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.80.

Shares of CMC traded up $1.00 during mid-day trading on Monday, hitting $36.46. 75,902 shares of the company’s stock were exchanged, compared to its average volume of 1,207,643. Commercial Metals has a fifty-two week low of $28.76 and a fifty-two week high of $46.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.51 and a current ratio of 2.48. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 4.14 and a beta of 1.14. The stock’s 50-day moving average is $39.84 and its 200-day moving average is $38.10.

Commercial Metals (NYSE:CMCGet Rating) last posted its earnings results on Thursday, June 16th. The basic materials company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $1.14. Commercial Metals had a return on equity of 31.92% and a net margin of 12.66%. During the same quarter in the previous year, the company earned $1.04 EPS. As a group, equities research analysts anticipate that Commercial Metals will post 7.18 EPS for the current year.

In related news, CEO Barbara Smith sold 20,899 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $43.49, for a total transaction of $908,897.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John R. Mcpherson acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average price of $40.55 per share, for a total transaction of $202,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $202,750. The disclosure for this purchase can be found here. Insiders have sold 38,582 shares of company stock worth $1,718,106 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $29,000. CWM LLC increased its stake 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 purchasing an additional 571 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $36,000. Geneos Wealth Management Inc. increased its stake in shares of Commercial Metals by 920.0% in the first 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 period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Commercial Metals by 127.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 636 shares during the period. Hedge funds and other 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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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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