CEMEX (NYSE:CX) Lifted to “Strong-Buy” at StockNews.com

CEMEX (NYSE:CX) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently commented on CX. Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Wednesday. Barclays downgraded CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research report on Friday, February 9th. Finally, The Goldman Sachs Group lifted their price objective on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.53.

CEMEX Price Performance

NYSE CX traded up $0.09 during mid-day trading on Friday, hitting $8.27. The stock had a trading volume of 4,029,580 shares, compared to its average volume of 6,687,606. CEMEX has a 52-week low of $5.67 and a 52-week high of $9.27. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 68.92, a P/E/G ratio of 0.16 and a beta of 1.47. The company has a 50 day simple moving average of $8.31 and a 200 day simple moving average of $7.61. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.59.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. The company had revenue of $4.24 billion for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. Equities analysts forecast that CEMEX will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On CEMEX

Several institutional investors have recently made changes to their positions in CX. Robeco Institutional Asset Management B.V. grew its holdings in CEMEX by 4.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 8,764,242 shares of the construction company’s stock worth $56,968,000 after buying an additional 373,246 shares in the last quarter. Raymond James & Associates grew its holdings in CEMEX by 37.4% in the 3rd quarter. Raymond James & Associates now owns 50,402 shares of the construction company’s stock worth $328,000 after buying an additional 13,718 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in CEMEX during the 3rd quarter valued at $95,000. Calamos Wealth Management LLC boosted its stake in CEMEX by 4.2% during the 3rd quarter. Calamos Wealth Management LLC now owns 150,396 shares of the construction company’s stock valued at $978,000 after purchasing an additional 6,046 shares in the last quarter. Finally, RWC Asset Advisors US LLC boosted its stake in CEMEX by 8.4% during the 3rd quarter. RWC Asset Advisors US LLC now owns 8,615,365 shares of the construction company’s stock valued at $56,000,000 after purchasing an additional 668,425 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

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.