Esterline Technologies Corporation (ESL) Downgraded by Jefferies Group to Hold
Other equities research analysts have also issued reports about the company. Canaccord Genuity reaffirmed a hold rating and set a $70.00 target price on shares of Esterline Technologies Corporation in a research report on Tuesday, November 8th. Zacks Investment Research lowered Esterline Technologies Corporation from a buy rating to a hold rating in a research report on Wednesday, October 19th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $81.17.
Esterline Technologies Corporation (NYSE:ESL) traded up 1.91% during trading on Thursday, hitting $87.85. The stock had a trading volume of 86,161 shares. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 25.71 and a beta of 1.39. Esterline Technologies Corporation has a 1-year low of $45.12 and a 1-year high of $94.73. The firm’s 50 day moving average is $89.97 and its 200 day moving average is $76.18.
Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, November 10th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.36. The company had revenue of $543.80 million for the quarter, compared to analyst estimates of $522.13 million. Esterline Technologies Corporation had a return on equity of 9.23% and a net margin of 5.10%. Esterline Technologies Corporation’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. On average, analysts anticipate that Esterline Technologies Corporation will post $4.71 earnings per share for the current year.
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In other Esterline Technologies Corporation news, insider Gary J. Posner sold 2,389 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $92.90, for a total value of $221,938.10. Following the transaction, the insider now owns 3,187 shares in the company, valued at $296,072.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary J. Posner sold 4,900 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $87.60, for a total value of $429,240.00. Following the completion of the transaction, the insider now owns 4,024 shares in the company, valued at approximately $352,502.40. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virginia Retirement Systems ET AL purchased a new position in shares of Esterline Technologies Corporation during the second quarter worth approximately $521,000. Vanguard Group Inc. increased its position in shares of Esterline Technologies Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,132,070 shares of the company’s stock worth $132,273,000 after buying an additional 78,706 shares during the period. Principal Financial Group Inc. increased its position in shares of Esterline Technologies Corporation by 13.5% in the second quarter. Principal Financial Group Inc. now owns 110,971 shares of the company’s stock worth $6,885,000 after buying an additional 13,215 shares during the period. Prudential Financial Inc. increased its position in shares of Esterline Technologies Corporation by 77.1% in the second quarter. Prudential Financial Inc. now owns 145,834 shares of the company’s stock worth $9,048,000 after buying an additional 63,470 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Esterline Technologies Corporation by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 3,923 shares of the company’s stock worth $243,000 after buying an additional 474 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.
Esterline Technologies Corporation Company Profile
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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