Barclays Cuts Cemex SAB de CV (CX) Price Target to $8.00

Cemex SAB de CV (NYSE:CX) had its price objective reduced by Barclays from $10.00 to $8.00 in a report issued on Friday morning. Barclays currently has a buy rating on the construction company’s stock.

CX has been the subject of a number of other reports. Citigroup set a $10.00 price target on Cemex SAB de CV and gave the stock a buy rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded Cemex SAB de CV from a sell rating to a hold rating in a research note on Thursday, August 9th. ValuEngine upgraded Cemex SAB de CV from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. HSBC downgraded Cemex SAB de CV from a buy rating to a hold rating and set a $8.00 target price for the company. in a research note on Thursday, August 16th. Finally, JPMorgan Chase & Co. set a $9.00 target price on Cemex SAB de CV and gave the company a buy rating in a research note on Monday, September 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Cemex SAB de CV presently has a consensus rating of Hold and a consensus price target of $8.86.

NYSE:CX opened at $4.89 on Friday. The stock has a market capitalization of $7.70 billion, a P/E ratio of 11.93, a PEG ratio of 0.57 and a beta of 1.37. Cemex SAB de CV has a one year low of $4.79 and a one year high of $8.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.57.



Hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. raised its holdings in shares of Cemex SAB de CV by 53.3% during the second quarter. Baird Financial Group Inc. now owns 50,766 shares of the construction company’s stock valued at $333,000 after buying an additional 17,643 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Cemex SAB de CV during the second quarter valued at approximately $404,000. FNY Investment Advisers LLC bought a new stake in shares of Cemex SAB de CV during the second quarter valued at approximately $526,000. Pinebridge Investments L.P. raised its holdings in shares of Cemex SAB de CV by 338.3% during the second quarter. Pinebridge Investments L.P. now owns 389,637 shares of the construction company’s stock valued at $2,556,000 after buying an additional 300,740 shares during the last quarter. Finally, HPM Partners LLC bought a new stake in shares of Cemex SAB de CV during the second quarter valued at approximately $304,000. Institutional investors own 33.22% of the company’s stock.

About Cemex SAB de CV

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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