Citigroup Maintains Their Buy Rating on Commercial Metals Company

By Carrie Williams

Citigroup analyst Alexander Hacking maintained a Buy rating on Commercial Metals Company (NYSE: CMC) today and set a price target of $21. The company’s shares opened today at $17.47.

According to TipRanks.com, Hacking is a 3-star analyst with an average return of 11.4% and a 52.4% success rate. Hacking covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Teck Resources Limited, and Warrior Met Coal Llc.

Currently, the analyst consensus on Commercial Metals Company is Hold and the average price target is $21.25, representing a 21.6% upside.

In a report released yesterday, Credit Suisse also maintained a Buy rating on the stock with a $24 price target.

Commercial Metals Company’s market cap is currently $2.07B and has a P/E ratio of 27.08. The company has a book value ratio of 1.4348.

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Commercial Metals Co. manufactures, recycles, and markets steel and metal products. It operates through the following segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.