CEMEX (NYSE:CX) Lowered to “Buy” at StockNews.com

CEMEX (NYSE:CXGet Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

CX has been the subject of several other research reports. Citigroup reissued a “buy” rating and issued a $8.20 price target on shares of CEMEX in a report on Thursday, November 2nd. Bank of America raised shares of CEMEX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $8.20 to $9.00 in a research note on Tuesday, January 9th. Finally, Barclays cut shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research report on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.37.

View Our Latest Report on CX

CEMEX Stock Performance

Shares of NYSE:CX opened at $7.66 on Friday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 21.89, a PEG ratio of 0.53 and a beta of 1.47. CEMEX has a 52 week low of $4.72 and a 52 week high of $8.81. The company has a quick ratio of 0.58, a current ratio of 0.89 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $7.28.

Hedge Funds Weigh In On CEMEX

A number of hedge funds have recently modified their holdings of CX. HighTower Advisors LLC increased its position in shares of CEMEX by 8.1% during the first quarter. HighTower Advisors LLC now owns 255,170 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 19,051 shares during the period. Private Advisor Group LLC lifted its stake in CEMEX by 164.4% during the first quarter. Private Advisor Group LLC now owns 38,153 shares of the construction company’s stock worth $202,000 after purchasing an additional 23,725 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of CEMEX by 58.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,387 shares of the construction company’s stock valued at $80,000 after purchasing an additional 5,676 shares during the period. Natixis Advisors L.P. raised its holdings in shares of CEMEX by 23.6% in the 1st quarter. Natixis Advisors L.P. now owns 278,056 shares of the construction company’s stock worth $1,471,000 after buying an additional 53,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CEMEX by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,277,600 shares of the construction company’s stock valued at $43,789,000 after purchasing an additional 270,749 shares in the last quarter. 31.81% of the stock is owned by institutional investors and hedge funds.

CEMEX Company Profile

(Get Free Report)

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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Analyst Recommendations for CEMEX (NYSE:CX)

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