CEMEX (NYSE:CX – Get Rating) was downgraded by equities research analysts at BNP Paribas from an "outperform" rating to a "neutral" rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $4.00 price target on the construction company's stock. BNP Paribas' target price would suggest a potential upside of 11.11% from the company's previous close.
Several other analysts have also weighed in on CX. Exane BNP Paribas lowered CEMEX from an "outperform" rating to a "neutral" rating in a report on Tuesday. Berenberg Bank lowered CEMEX from a "buy" rating to a "hold" rating in a report on Friday, June 10th. Finally, StockNews.com lowered CEMEX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.42.
Get CEMEX alerts:CEMEX Trading Up 1.1 %
CX stock opened at $3.60 on Tuesday. CEMEX has a 1-year low of $3.22 and a 1-year high of $7.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.60. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.52 and a beta of 1.32. The business has a 50 day simple moving average of $4.05 and a two-hundred day simple moving average of $4.29.
Institutional Trading of CEMEX
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capstone Financial Advisors Inc. purchased a new stake in CEMEX in the second quarter worth $39,000. Amundi grew its position in shares of CEMEX by 13.8% during the 2nd quarter. Amundi now owns 1,929,370 shares of the construction company's stock worth $7,274,000 after buying an additional 233,401 shares in the last quarter. WCG Wealth Advisors LLC bought a new position in shares of CEMEX during the 2nd quarter worth $194,000. ExodusPoint Capital Management LP bought a new position in shares of CEMEX during the 2nd quarter worth $348,000. Finally, International Assets Investment Management LLC grew its position in shares of CEMEX by 24.6% during the 2nd quarter. International Assets Investment Management LLC now owns 17,934 shares of the construction company's stock worth $70,000 after buying an additional 3,545 shares in the last quarter. Hedge funds and other institutional investors own 29.19% of the company's stock.About CEMEX
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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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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