Carlisle Companies (NYSE:CSL) Upgraded by DA Davidson to Hold Rating

DA Davidson upgraded shares of Carlisle Companies (NYSE:CSL) to a hold rating in a report released on Monday morning,Zacks.com reports.

Several other analysts have also issued reports on the company. Robert W. Baird set a $412.00 price objective on Carlisle Companies in a report on Thursday, July 30th. Truist Financial reduced their price target on Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Finally, Raymond James Financial began coverage on shares of Carlisle Companies in a research note on Monday, April 27th. They issued an “outperform” rating and a $425.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $402.43.

Carlisle Companies Stock Performance

CSL stock opened at $362.95 on Monday. The firm has a 50 day simple moving average of $358.87 and a 200 day simple moving average of $358.26. Carlisle Companies has a 52 week low of $293.43 and a 52 week high of $432.91. The stock has a market cap of $14.41 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.14 and a beta of 0.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.04 and a current ratio of 2.60.

Carlisle Companies (NYSE:CSL) last released its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.68. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $6.27 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Carlisle Companies will post 21.29 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, August 19th. This is a positive change from Carlisle Companies’s previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Carlisle Companies’s dividend payout ratio is 28.69%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. bought a new position in Carlisle Companies during the fourth quarter worth about $27,000. Signature Equity Partners LLC raised its stake in shares of Carlisle Companies by 3,133.3% in the first quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Torren Management LLC acquired a new stake in Carlisle Companies during the 4th quarter valued at $33,000. Allied Private Wealth LLC bought a new position in Carlisle Companies in the 2nd quarter valued at $33,000. Finally, Jones Financial Companies Lllp acquired a new position in Carlisle Companies in the second quarter worth $33,000. Institutional investors and hedge funds own 89.52% of the company’s stock.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company’s operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.