Commercial Metals (NYSE:CMC) Receives Sell Rating from UBS Group

Commercial Metals (NYSE:CMC)‘s stock had its “sell” rating restated by equities researchers at UBS Group in a note issued to investors on Thursday, Marketbeat reports. They currently have a $56.00 price target on the basic materials company’s stock, down from their previous price target of $62.00. UBS Group’s price objective suggests a potential downside of 2.15% from the company’s current price.

Several other analysts also recently weighed in on CMC. BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group began coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.40.

Commercial Metals Stock Down 2.4 %

Commercial Metals stock opened at $57.23 on Thursday. Commercial Metals has a 1-year low of $47.27 and a 1-year high of $64.53. The business has a fifty day moving average price of $57.90 and a 200-day moving average price of $55.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Equities research analysts forecast that Commercial Metals will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Commercial Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seizert Capital Partners LLC lifted its holdings in shares of Commercial Metals by 32.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock valued at $4,170,000 after buying an additional 18,600 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Commercial Metals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after acquiring an additional 18,262 shares during the period. Intech Investment Management LLC boosted its position in Commercial Metals by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 17,010 shares in the last quarter. Vestcor Inc boosted its position in Commercial Metals by 108.0% in the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Commercial Metals by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock worth $16,618,000 after purchasing an additional 48,453 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.