Caesarstone Sdot-Yam Ltd (CSTE) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $45 . Stifel advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on Caesarstone Sdot-Yam Ltd. Chardan Capital Markets Initiated Caesarstone Sdot-Yam Ltd on Apr 6, 2016 to “Buy”, Price Target of the shares are set at $44.Shares were Downgraded by Barclays on Feb 11, 2016 to ” Equal Weight” and Lowered the Price Target to $ 38 from a previous price target of $46 .Shares were Reiterated by Stifel on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $54 .
On the company’s financial health, Caesarstone Sdot-Yam Ltd reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.43. The company had revenue of $116.90 million for the quarter, compared to analysts expectations of $115.40 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Caesarstone Sdot-Yam Ltd opened for trading at $35.43 and hit $38.36 on the upside on Wednesday, eventually ending the session at $37.48, with a gain of 2.60% or 0.95 points. The heightened volatility saw the trading volume jump to 7,44,076 shares. Company has a market cap of $1,323 M.
Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company sells its products under its Caesarstone brand. The company’s products consist of engineered quartz which are installed as countertops in residential kitchens. Other applications of its products include vanity tops wall panels back splashes floor tiles stairs and other interior surfaces. Its engineered quartz slabs generally measure 120 inches long by 56 1/2 inches wide with a thickness of 1/2 of an inch 3/4 of an inch or 1 1/4 inches. The company offers a spectrum of design options in the engineered quartz surface industry with different colors textures and finishes. Its designs range from fine-grained patterns to coarse-grained color blends with a variegated visual texture. The company’s products are manufactured at its two manufacturing facilities located in Kibbutz Sdot-Yam in central Israel and Bar-Lev Industrial Park in northern Israel.