Barclays lowered shares of CEMEX (NYSE:CX – Free Report) from an overweight rating to an equal weight rating in a research report released on Friday, MarketBeat reports. Barclays currently has $9.00 price target on the construction company’s stock.
Other research analysts also recently issued reports about the company. StockNews.com raised CEMEX from a buy rating to a strong-buy rating in a research note on Tuesday, December 12th. Bank of America raised CEMEX from a neutral rating to a buy rating and boosted their price objective for the company from $8.20 to $9.00 in a research note on Tuesday, January 9th. Finally, Citigroup reissued a buy rating and issued a $8.20 price objective on shares of CEMEX in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $9.37.
CEMEX Trading Down 8.7 %
Institutional Trading of CEMEX
A number of institutional investors and hedge funds have recently modified their holdings of CX. Creative Financial Designs Inc. ADV purchased a new stake in shares of CEMEX during the fourth quarter valued at approximately $26,000. Atria Wealth Solutions Inc. purchased a new stake in shares of CEMEX during the second quarter valued at approximately $40,000. Blue Trust Inc. grew its holdings in CEMEX by 65.0% during the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,062 shares during the period. Engineers Gate Manager LP bought a new position in CEMEX during the fourth quarter valued at $41,000. Finally, Cetera Advisor Networks LLC bought a new position in CEMEX during the second quarter valued at $53,000. 31.81% of the stock is owned by hedge funds and other institutional investors.
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 asphalt, concrete blocks, concrete block paving, rail sleepers, and flooring systems; architectural concrete products; and box culverts, bridges, drainage basins, barriers, and parking curbs.
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