ValuEngine Upgrades Commercial Metals (NYSE:CMC) to Hold

Commercial Metals (NYSE:CMC) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Several other analysts also recently weighed in on CMC. JPMorgan Chase & Co. set a $22.00 price target on shares of Commercial Metals and gave the company a “buy” rating in a research note on Monday, September 23rd. Citigroup set a $16.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a research note on Tuesday, June 11th. TheStreet raised shares of Commercial Metals from a “c+” rating to a “b” rating in a research note on Tuesday, July 16th. Deutsche Bank downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Thursday, July 11th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded shares of Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Commercial Metals currently has an average rating of “Hold” and a consensus target price of $19.29.

Shares of Commercial Metals stock traded up $0.17 on Wednesday, hitting $17.64. 1,070,199 shares of the company traded hands, compared to its average volume of 1,479,143. The stock’s 50 day moving average price is $16.71 and its 200-day moving average price is $16.70. The company has a current ratio of 3.00, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. Commercial Metals has a 52 week low of $13.27 and a 52 week high of $21.05. The company has a market cap of $2.08 billion, a PE ratio of 11.84, a PEG ratio of 2.27 and a beta of 1.76.

Large investors have recently modified their holdings of the stock. Centaurus Financial Inc. bought a new position in Commercial Metals in the first quarter worth approximately $60,000. Rehmann Capital Advisory Group raised its stake in Commercial Metals by 2,690.0% in the first quarter. Rehmann Capital Advisory Group now owns 8,370 shares of the basic materials company’s stock worth $143,000 after buying an additional 8,070 shares in the last quarter. World Asset Management Inc bought a new position in Commercial Metals in the second quarter worth approximately $181,000. M&T Bank Corp bought a new position in Commercial Metals in the second quarter worth approximately $181,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Commercial Metals in the second quarter worth approximately $187,000. 94.82% of the stock is owned by institutional investors.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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