Caesarstone (NASDAQ:CSTE) Upgraded at StockNews.com

StockNews.com upgraded shares of Caesarstone (NASDAQ:CSTE) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Caesarstone Price Performance

Shares of CSTE opened at $4.30 on Friday. Caesarstone has a 12 month low of $3.76 and a 12 month high of $6.81. The stock’s 50-day moving average is $4.37 and its two-hundred day moving average is $4.72. The stock has a market cap of $148.49 million, a PE ratio of -2.14 and a beta of 0.18.

Institutional Trading of Caesarstone

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after acquiring an additional 2,640 shares during the last quarter. Jane Street Group LLC acquired a new position in Caesarstone during the 3rd quarter valued at approximately $55,000. Barclays PLC grew its position in shares of Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after acquiring an additional 20,271 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Caesarstone during the second quarter valued at approximately $107,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Caesarstone during the second quarter worth approximately $106,000. Institutional investors own 33.70% of the company’s stock.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.