StockNews.com Upgrades CEMEX (NYSE:CX) to Buy

CEMEX (NYSE:CX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently weighed in on CX. JPMorgan Chase & Co. increased their price objective on shares of CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Morgan Stanley lowered CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. The Goldman Sachs Group lifted their target price on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada increased their price target on shares of CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.58.

CEMEX Price Performance

CEMEX stock opened at $6.16 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $5.78 and a 200 day moving average price of $5.78. CEMEX has a 12-month low of $4.89 and a 12-month high of $8.11. The stock has a market cap of $8.92 billion, a P/E ratio of 9.77 and a beta of 1.41.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The business had revenue of $186.46 million during the quarter, compared to the consensus estimate of $214.59 million. Sell-side analysts anticipate that CEMEX will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares during the last quarter. Allworth Financial LP lifted its stake in shares of CEMEX by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock valued at $157,000 after buying an additional 1,906 shares during the period. Cetera Investment Advisers boosted its holdings in shares of CEMEX by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company’s stock worth $179,000 after purchasing an additional 2,452 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in CEMEX by 21.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock worth $81,000 after buying an additional 2,505 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of CEMEX by 3.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company’s stock worth $437,000 after acquiring an additional 2,570 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Company Profile

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 and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.