Market Analysts see Caesarstone Ltd. [CSTE] gaining to $18. Time to buy?

Caesarstone Ltd. [NASDAQ: CSTE] traded at a low on 04/06/23, posting a -1.80 loss after which it closed the day’ session at $3.81. The company report on March 9, 2023 that Caesarstone Names Yosef (Yos) Shiran as new Chief Executive Officer Effective March 16, 2023.

Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today announced that Yosef (Yos) Shiran has been appointed as its Chief Executive Officer. Shiran, who previously served as Caesarstone’s Chief Executive Officer from 2009 to 2016, will reassume the role on March 16, 2023. Following Shiran’s appointment, Yuval Dagim, the current Chief Executive Officer, will step down and assist in ensuring business continuity and a smooth transition.

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Shiran stated, “I am honored to rejoin Caesarstone as its CEO. Caesarstone is currently facing many challenges, but I believe that the Company has significant assets and potential, highlighted by its supportive Board of Directors and loyal employee base. I look forward to working with Yuval to ensure a smooth transition and renewing my collaboration with the talented Caesarstone employees in order to capitalize on the opportunities ahead. I am confident that as we work together we can empower our global position as an industry leader with a reputation for innovation, quality and service while creating value for all our stakeholders.”.

The results of the trading session contributed to over 72789 shares changing hands. Over the past one week, the price volatility of Caesarstone Ltd. stands at 5.03% while the volatility over the past one month is 5.18%.

The market cap for CSTE stock reached $128.59 million, with 34.49 million shares outstanding and 17.38 million shares in the current float. Compared to the average trading volume of 111.98K shares, CSTE reached a trading volume of 72789 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Caesarstone Ltd. [CSTE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CSTE shares is $7.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CSTE stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Caesarstone Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 28, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on December 29, 2020, representing the official price target for Caesarstone Ltd. stock. Previously, the target price had yet another drop from $19 to $12, while Stifel kept a Hold rating on CSTE stock. On August 08, 2019, analysts increased their price target for CSTE shares from 17 to 19.

The Average True Range (ATR) for Caesarstone Ltd. is set at 0.23, with the Price to Sales ratio for CSTE stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 1.75.

How has CSTE stock performed recently?

Caesarstone Ltd. [CSTE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.69. With this latest performance, CSTE shares dropped by -18.59% in over the last four-week period, additionally sinking by -60.23% over the last 6 months – not to mention a drop of -63.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CSTE stock in for the last two-week period is set at 25.12, with the RSI for the last a single of trading hit 22.82, and the three-weeks RSI is set at 27.30 for Caesarstone Ltd. [CSTE]. The present Moving Average for the last 50 days of trading for this stock 5.18, while it was recorded at 3.96 for the last single week of trading, and 7.55 for the last 200 days.

Caesarstone Ltd. [CSTE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Caesarstone Ltd. [CSTE] shares currently have an operating margin of +2.27 and a Gross Margin at +23.91. Caesarstone Ltd.’s Net Margin is presently recorded at -8.26.

Return on Total Capital for CSTE is now 2.42, given the latest momentum, and Return on Invested Capital for the company is -9.56. Return on Equity for this stock declined to -12.47, with Return on Assets sitting at -7.04. When it comes to the capital structure of this company, Caesarstone Ltd. [CSTE] has a Total Debt to Total Equity ratio set at 42.36. Additionally, CSTE Total Debt to Total Capital is recorded at 29.75, with Total Debt to Total Assets ending up at 23.68. Long-Term Debt to Equity for the company is recorded at 30.68, with the Long-Term Debt to Total Capital now at 21.55.

Reflecting on the efficiency of the workforce at the company, Caesarstone Ltd. [CSTE] managed to generate an average of -$27,027 per employee. Receivables Turnover for the company is 6.66 with a Total Asset Turnover recorded at a value of 0.85.Caesarstone Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 2.50.

Earnings analysis for Caesarstone Ltd. [CSTE]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CSTE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Caesarstone Ltd. go to 14.60%.

Insider trade positions for Caesarstone Ltd. [CSTE]

There are presently around $58 million, or 36.80% of CSTE stock, in the hands of institutional investors. The top three institutional holders of CSTE stocks are: PHOENIX HOLDINGS LTD. with ownership of 3,868,049, which is approximately 26.273% of the company’s market cap and around 51.75% of the total institutional ownership; GLOBAL ALPHA CAPITAL MANAGEMENT LTD., holding 3,074,555 shares of the stock with an approximate value of $11.93 million in CSTE stocks shares; and BLACKROCK INC., currently with $5.18 million in CSTE stock with ownership of nearly -0.471% of the company’s market capitalization.

Positions in Caesarstone Ltd. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 44 institutional holders increased their position in Caesarstone Ltd. [NASDAQ:CSTE] by around 1,546,457 shares. Additionally, 40 investors decreased positions by around 2,142,826 shares, while 14 investors held positions by with 11,269,997 shares. The mentioned changes placed institutional holdings at 14,959,280 shares, according to the latest SEC report filing. CSTE stock had 12 new institutional investments in for a total of 293,812 shares, while 14 institutional investors sold positions of 1,582,935 shares during the same period.


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