CEMEX (NYSE:CX) Downgraded by Bank of America to Neutral

Bank of America downgraded shares of CEMEX (NYSE:CX) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat.com reports. The firm currently has $9.00 target price on the construction company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com cut CEMEX from a strong-buy rating to a buy rating in a research report on Friday, February 9th. Barclays cut CEMEX from an overweight rating to an equal weight rating and set a $9.00 target price on the stock. in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $9.37.

CEMEX Stock Performance

Shares of NYSE:CX opened at $8.13 on Wednesday. The business’s fifty day moving average price is $8.29 and its two-hundred day moving average price is $7.60. CEMEX has a fifty-two week low of $5.67 and a fifty-two week high of $9.27. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 67.75, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.74 and a quick ratio of 0.47.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. The company had revenue of $4.24 billion during the quarter. As a group, analysts predict that CEMEX will post 0.94 EPS for the current fiscal year.

Institutional Trading of CEMEX

Several large investors have recently made changes to their positions in the business. Norden Group LLC acquired a new position in shares of CEMEX during the first quarter valued at $654,000. Allspring Global Investments Holdings LLC lifted its stake in shares of CEMEX by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after acquiring an additional 94,790 shares during the period. Claro Advisors LLC lifted its stake in shares of CEMEX by 6.9% during the first quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock valued at $278,000 after acquiring an additional 1,998 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of CEMEX during the first quarter valued at $102,000. Finally, Ballentine Partners LLC lifted its stake in shares of CEMEX by 6.9% during the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after acquiring an additional 1,358 shares during the period. Institutional investors own 82.97% of the company’s stock.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.