Shares of Cemex SAB de CV (NYSE:CX) fell 6.9% on Thursday . The stock traded as low as $3.83 and last traded at $3.90, 14,548,731 shares changed hands during trading. An increase of 99% from the average session volume of 7,294,077 shares. The stock had previously closed at $4.19.
Several brokerages have recently issued reports on CX. HSBC downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Santander downgraded shares of Cemex SAB de CV from a “buy” rating to a “hold” rating in a report on Monday, July 15th. ValuEngine raised shares of Cemex SAB de CV from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Cemex SAB de CV from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Cemex SAB de CV presently has a consensus rating of “Hold” and a consensus target price of $6.00.
The company has a market cap of $5.78 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.74 and a quick ratio of 0.53. The firm’s fifty day moving average price is $3.95 and its 200-day moving average price is $4.03.
A number of hedge funds have recently bought and sold shares of the stock. Virtus ETF Advisers LLC bought a new stake in Cemex SAB de CV in the second quarter worth about $26,000. Golden State Wealth Management LLC raised its position in Cemex SAB de CV by 121.9% in the second quarter. Golden State Wealth Management LLC now owns 7,281 shares of the construction company’s stock worth $30,000 after acquiring an additional 4,000 shares in the last quarter. Wealth Architects LLC bought a new stake in Cemex SAB de CV in the third quarter worth about $48,000. Oppenheimer & Co. Inc. bought a new stake in Cemex SAB de CV in the second quarter worth about $62,000. Finally, Jefferies Group LLC bought a new stake in Cemex SAB de CV in the second quarter worth about $76,000. 30.86% of the stock is owned by institutional investors and hedge funds.
Cemex SAB de CV Company Profile (NYSE:CX)
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.
See Also: Why do corrections happen?
Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.