Bartlow County, Georgia is about to see a new automotive structures manufacturing facility open up, thanks to Constellium NV (NYSE:CSTM). The project is being put forth by Constellium, in cooperation with Seefried Properties, who have invested $12 million into the project. This, on top of the $20 million put forth by Constellium, makes it a project worth a total of $32 million.
If all goes as planned, the project will commence sometime in early 2016, with the plant ready for production as soon at 2017. It will measure an astounding 84,000 square feet, with the potential to be expanded to 220,000 square feet in the future, and it will create around 150 jobs by 2019.
The stock is up 6.79% or $0.59 after the positive news, hitting $9.2 per share. About 799,460 shares traded hands. CSTM has declined 52.69% since April 23, 2015 and is downtrending. It has underperformed by 51.57% the S&P500.
Out of 7 analysts covering Constellium NV (NYSE:CSTM), 5 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $19 is the highest target while $7 is the lowest. The $11.86 average target is 28.91% above today’s ($9.2) stock price. Constellium NV was the topic in 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Citigroup maintained the stock on October 5 with “Neutral” rating. Sterne Agee CRT maintained the shares of CSTM in a report on October 2 with “Buy” rating.
Constellium N.V., formerly Constellium Holdco BV, is a Netherlands company, which is engaged in the manufacture of aluminum products and solutions. The company has a market cap of $896.03 million. The Firm is a supplier of such sectors as: aerospace, automotive and packaging. It currently has negative earnings. The Firm offers plates, sheet and coil, precision casting, cockpit carriers for vehicles, vehicle safety components, profiles, as well as tubes and bars, among others.