Brokerages Set Commercial Metals (NYSE:CMC) PT at $61.40

Commercial Metals (NYSE:CMC) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $61.40.

A number of research firms have recently issued reports on CMC. Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Bank of America reduced their target price on shares of Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Wolfe Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th.

Institutional Trading of Commercial Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners grew its holdings in Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Commercial Metals in the second quarter valued at about $50,132,000. Jacobs Levy Equity Management Inc. raised its stake in Commercial Metals by 388.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 298,621 shares of the basic materials company’s stock valued at $17,550,000 after buying an additional 237,477 shares in the last quarter. First Trust Advisors LP lifted its holdings in Commercial Metals by 59.1% during the 4th quarter. First Trust Advisors LP now owns 617,188 shares of the basic materials company’s stock worth $30,884,000 after buying an additional 229,266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Commercial Metals by 1,701.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 227,778 shares of the basic materials company’s stock valued at $13,387,000 after acquiring an additional 215,131 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.3 %

Shares of Commercial Metals stock opened at $53.35 on Friday. The company has a fifty day moving average price of $53.49 and a 200 day moving average price of $54.74. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $61.26. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 11.10 and a beta of 1.14.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.