CEMEX (NYSE:CX) Given New $10.00 Price Target at The Goldman Sachs Group

CEMEX (NYSE:CX) had its price objective hoisted by The Goldman Sachs Group from $9.00 to $10.00 in a report issued on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other research firms have also recently commented on CX. Bank of America cut shares of CEMEX from a buy rating to a neutral rating and set a $9.00 price target for the company. in a report on Wednesday. Barclays cut shares of CEMEX from an overweight rating to an equal weight rating and set a $9.00 target price for the company. in a research note on Friday, February 9th. Finally, StockNews.com cut shares of CEMEX from a strong-buy rating to a buy rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CEMEX presently has a consensus rating of Moderate Buy and a consensus target price of $9.53.

CEMEX Stock Performance

CX stock opened at $8.27 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.74. The stock has a market cap of $11.98 billion, a P/E ratio of 59.07, a P/E/G ratio of 0.17 and a beta of 1.47. The firm has a 50 day simple moving average of $8.32 and a 200 day simple moving average of $7.63. CEMEX has a 52 week low of $5.67 and a 52 week high of $9.27.

CEMEX (NYSE:CX) last posted its quarterly 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 return on equity of 1.81% and a net margin of 1.28%. Research analysts anticipate that CEMEX will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CEMEX

A number of institutional investors have recently modified their holdings of CX. Creative Financial Designs Inc. ADV bought a new position in shares of CEMEX in the fourth quarter valued at approximately $26,000. CWM LLC raised its position in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the period. Blue Trust Inc. raised its position in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,062 shares during the period. PNC Financial Services Group Inc. raised its position in shares of CEMEX by 40.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock valued at $55,000 after purchasing an additional 2,454 shares during the period. Finally, MQS Management LLC bought a new position in shares of CEMEX in the third quarter valued at approximately $70,000. Institutional investors own 82.97% of the company’s stock.

CEMEX Company Profile

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.