CEMEX (NYSE:CX) Lowered to Neutral at BNP Paribas

BNP Paribas lowered shares of CEMEX (NYSE:CXGet Rating) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $4.00 price objective on the construction company’s stock.

Several other research firms also recently commented on CX. Berenberg Bank downgraded CEMEX from a buy rating to a hold rating in a report on Friday, June 10th. Exane BNP Paribas cut CEMEX from an outperform rating to a neutral rating in a research report on Tuesday. Finally, StockNews.com cut CEMEX from a strong-buy rating to a buy rating in a research report on Wednesday, August 31st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $7.42.

CEMEX Price Performance

NYSE CX opened at $3.56 on Tuesday. The business has a 50 day simple moving average of $4.05 and a 200 day simple moving average of $4.29. CEMEX has a 52-week low of $3.22 and a 52-week high of $7.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 0.87. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.51 and a beta of 1.32.

Institutional Trading of CEMEX

A number of institutional investors and hedge funds have recently modified their holdings of CX. Citigroup Inc. lifted its position in CEMEX by 20.2% during the fourth quarter. Citigroup Inc. now owns 729,546 shares of the construction company’s stock valued at $4,947,000 after purchasing an additional 122,461 shares in the last quarter. Pictet Asset Management SA increased its stake in CEMEX by 6.7% during the fourth quarter. Pictet Asset Management SA now owns 87,536 shares of the construction company’s stock worth $593,000 after acquiring an additional 5,500 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of CEMEX during the fourth quarter valued at approximately $98,000. O Shaughnessy Asset Management LLC grew its stake in shares of CEMEX by 46.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,669 shares of the construction company’s stock valued at $79,000 after buying an additional 3,726 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of CEMEX by 10.0% during the fourth quarter. Schroder Investment Management Group now owns 8,984,916 shares of the construction company’s stock valued at $6,092,000 after buying an additional 817,510 shares during the last quarter. Institutional investors own 29.19% of the company’s stock.

About CEMEX

(Get Rating)

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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

Further Reading

Analyst Recommendations for CEMEX (NYSE:CX)

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