In a report issued on October 23, Curt Woodworth from Credit Suisse maintained a Buy rating on Commercial Metals Company (CMC), with a price target of $27.00. The company’s shares closed last Monday at $19.24.
According to TipRanks.com, Woodworth is a 5-star analyst with an average return of 10.4% and a 56.0% success rate. Woodworth covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs Inc, United States Steel, and Constellium.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Commercial Metals Company with a $22.25 average price target, a 16.4% upside from current levels. In a report issued on October 24, Macquarie also maintained a Buy rating on the stock with a $21.00 price target.
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Based on Commercial Metals Company’s latest earnings release for the quarter ending August 31, the company reported a quarterly net profit of $86.11 million. In comparison, last year the company had a net profit of $51.56 million.
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Commercial Metals Co. engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products.
