Stock of The Day: Is Selling 52-Week Stock Like Caesarstone Ltd a Winning Strategy?

Stock of The Day: Is Selling 52 Week Stock Like Caesarstone Ltd a Winning Strategy?

The stock of Caesarstone Ltd (NASDAQ:CSTE) hit a new 52-week low and has $24.92 target or 9.00% below today’s $27.38 share price. The 8 months bearish chart indicates high risk for the $949.71 million company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $24.92 price target is reached, the company will be worth $85.47M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 207,776 shares traded hands. Caesarstone Ltd (NASDAQ:CSTE) has declined 15.81% since April 5, 2016 and is downtrending. It has underperformed by 17.76% the S&P500.

Caesarstone Ltd (NASDAQ:CSTE) Ratings Coverage

Out of 8 analysts covering Caesarstone Sdot-Yam (NASDAQ:CSTE), 4 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 50% are positive. Caesarstone Sdot-Yam has been the topic of 18 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Monday, August 24 by JP Morgan. The stock of Caesarstone Ltd (NASDAQ:CSTE) earned “Neutral” rating by Bank of America on Thursday, August 6. Stifel Nicolaus downgraded it to “Hold” rating and $30 target price in Thursday, November 3 report. The firm has “Overweight” rating given on Tuesday, October 13 by Barclays Capital. On Wednesday, November 2 the stock rating was downgraded by JP Morgan to “Neutral”. The rating was upgraded by Barclays Capital on Monday, August 24 to “Overweight”. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, October 29. The firm has “Buy” rating by Bank of America given on Friday, October 16. The stock of Caesarstone Ltd (NASDAQ:CSTE) has “Buy” rating given on Wednesday, April 6 by Chardan Capital Markets. The rating was downgraded by SprucePoint Capital to “Strong Sell” on Tuesday, October 6.

According to Zacks Investment Research, “CaesarStone Ltd manufactures engineered quartz surfaces for residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The company’s product consists of Classico, Supernatural, Motivo and Concetto. CaesarStone Ltd, formerly known as Caesarstone Sdot-Yam Ltd., is based in MP Menashe, Israel.”

More notable recent Caesarstone Ltd (NASDAQ:CSTE) news were published by: Fool.com which released: “Why Caesarstone Sdot-Yam Ltd’s Shares Plunged 21% Today” on November 02, 2016, also Fool.com with their article: “Why Shares of Caesarstone Ltd. Surged Higher Today” published on September 12, 2016, Fool.com published: “Why Shares of Caesarstone Ltd. Are Soaring Today” on August 03, 2016. More interesting news about Caesarstone Ltd (NASDAQ:CSTE) were released by: Fool.com and their article: “Caesarstone Ltd Sees Growth Slow in U.S. Market During Fourth Quarter” published on February 11, 2016 as well as Fool.com‘s news article titled: “Why Shares of Caesarstone Sdot-Yam Ltd. Jumped Today” with publication date: April 12, 2016.

CSTE Company Profile

Caesarstone Ltd., incorporated on December 31, 1989, is a maker of engineered quartz surfaces. The Company’s engineered quartz surfaces are installed as countertops in residential kitchens. The Company’s products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets. The other applications of its products include vanity tops, wall panels, back splashes, floor tiles, stairs, and other interior surfaces that are used in a range of residential and non-residential applications. The Company’s engineered quartz slabs measure over 120 inches long by approximately 56.5 inches wide, and over 130 inches long by approximately 65 inches wide with a thickness of approximately 0.5 of an inch, over 0.75 of an inch or approximately 1.25 inches. The Company’s creates range from fine-grained patterns to coarse-grained color blends with a variegated visual texture. The Firm sells its products under the Caesarstone brand.

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