Citigroup Has Lowered Expectations for Curtiss-Wright (NYSE:CW) Stock Price

Curtiss-Wright (NYSE:CW) had its target price reduced by research analysts at Citigroup from $793.00 to $622.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 22.42% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Piper Sandler assumed coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They set a “neutral” rating and a $665.00 target price on the stock. Weiss Ratings cut shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Morgan Stanley reissued an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $746.88.

Curtiss-Wright Stock Performance

Shares of CW stock traded down $45.24 on Wednesday, reaching $508.11. The stock had a trading volume of 447,135 shares, compared to its average volume of 313,500. Curtiss-Wright has a 12 month low of $502.31 and a 12 month high of $808.16. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 2.44 and a beta of 0.88. The firm’s 50-day moving average is $614.29 and its two-hundred day moving average is $689.86. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.23 earnings per share. On average, research analysts expect that Curtiss-Wright will post 15.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Larry D. Wyche sold 100 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Watts sold 1,035 shares of Curtiss-Wright stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the sale, the executive vice president owned 2,736 shares of the company’s stock, valued at $1,694,842.56. This trade represents a 27.45% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $3,448,649,000. Primecap Management Co. CA bought a new stake in Curtiss-Wright during the second quarter worth $390,106,000. Bank of New York Mellon Corp bought a new stake in Curtiss-Wright during the second quarter worth $270,458,000. William Blair Investment Management LLC purchased a new stake in Curtiss-Wright in the 2nd quarter valued at $240,442,000. Finally, Franklin Resources Inc. lifted its stake in Curtiss-Wright by 61.0% during the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after acquiring an additional 185,887 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.