Longbow Research Analysts Give Commercial Metals (CMC) a $25.00 Price Target

Commercial Metals (NYSE:CMC) has been given a $25.00 price target by equities research analysts at Longbow Research in a report released on Monday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Longbow Research’s price target suggests a potential upside of 26.26% from the company’s previous close.

A number of other research firms have also recently weighed in on CMC. Citigroup boosted their target price on shares of Commercial Metals from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, November 6th. ValuEngine cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Seaport Global Securities started coverage on shares of Commercial Metals in a research note on Thursday, October 11th. They set a “neutral” rating and a $20.00 price target on the stock. Deutsche Bank cut shares of Commercial Metals to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Macquarie set a $23.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.88.

CMC traded up $0.53 during midday trading on Monday, reaching $19.80. The company had a trading volume of 6,252 shares, compared to its average volume of 916,242. The company has a quick ratio of 2.75, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 13.28 and a beta of 1.25. Commercial Metals has a 12-month low of $17.26 and a 12-month high of $26.72.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. As a group, sell-side analysts anticipate that Commercial Metals will post 2.25 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in CMC. Tower Research Capital LLC TRC lifted its stake in shares of Commercial Metals by 79.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after buying an additional 3,822 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Commercial Metals in the 3rd quarter worth approximately $207,000. Global Financial Private Capital LLC purchased a new stake in Commercial Metals in the 3rd quarter worth approximately $244,000. First Republic Investment Management Inc. purchased a new stake in Commercial Metals in the 3rd quarter worth approximately $251,000. Finally, Riverhead Capital Management LLC lifted its stake in Commercial Metals by 27.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 12,403 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors own 87.03% of the company’s stock.

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 five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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