CEAT Receives Upgraded Stock Call to 'Hold' from MarketsMOJO
CEAT, a midcap company in the Tyres & Allied industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' due to its technical trend improving from Sideways to Mildly Bullish on 18-Nov-24. Additionally, a key technical factor, OBV, has been Bullish since 18 Nov 2024.One of the main reasons for this upgrade is the company's attractive valuation with a ROCE of 16.4 and an Enterprise value to Capital Employed ratio of 2.1. The stock is currently trading at a discount compared to its average historical valuations, making it an attractive option for investors.
Moreover, CEAT has consistently generated positive returns over the last 3 years, outperforming the BSE 500 index. In the past year alone, the stock has generated a return of 30.52%, while its profits have risen by 13.5%. The PEG ratio of the company stands at 1.4, indicating a healthy growth potential.
Another positive aspect of CEAT is its high institutional holdings at 36.39%. These investors have better capability and resources to analyze the fundamentals of companies, making their stake in CEAT a positive sign for retail investors. In fact, their stake has increased by 0.53% over the previous quarter, further highlighting their confidence in the company.
However, the company did report negative results in September 2024, with a PAT(Q) of Rs 121.90 crore, a decrease of -28.9% compared to the previous quarter. The OPERATING PROFIT TO INTEREST (Q) was also at its lowest at 5.45 times, while PBDIT(Q) was at its lowest at Rs 362.28 crore. These results may have contributed to the stock being upgraded to a 'Hold' instead of a 'Buy'.
Overall, CEAT's upgraded stock call to 'Hold' by MarketsMOJO is a positive sign for investors. With its attractive valuation, consistent returns, and high institutional holdings, the company shows potential for growth in the future. However, investors should also consider the recent negative results before making any investment decisions.
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