Credit Suisse Group Lowers Esterline Technologies (ESL) to Underperform
Credit Suisse Group lowered shares of Esterline Technologies (NYSE:ESL) from a neutral rating to an underperform rating in a research note released on Friday, Marketbeat reports.
ESL has been the subject of several other reports. ValuEngine downgraded Esterline Technologies from a buy rating to a hold rating in a research note on Thursday, November 9th. Canaccord Genuity dropped their price target on Esterline Technologies from $92.00 to $90.00 and set a hold rating for the company in a research note on Friday, November 10th. SunTrust Banks restated a buy rating on shares of Esterline Technologies in a research note on Thursday, October 12th. Zacks Investment Research upgraded Esterline Technologies from a strong sell rating to a hold rating in a research note on Wednesday, October 11th. Finally, Jefferies Group restated a hold rating and issued a $83.00 price target on shares of Esterline Technologies in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $80.17.
Esterline Technologies (NYSE:ESL) traded down $2.00 during mid-day trading on Friday, reaching $75.40. The company’s stock had a trading volume of 206,000 shares, compared to its average volume of 227,344. Esterline Technologies has a 1-year low of $68.30 and a 1-year high of $102.70. The company has a quick ratio of 2.03, a current ratio of 3.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $2,241.02, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.43.
In other news, Director Delores M. Etter acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average cost of $72.13 per share, with a total value of $72,130.00. Following the acquisition, the director now directly owns 13,627 shares of the company’s stock, valued at $982,915.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Curtis C. Reusser acquired 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $203,000.00. Following the completion of the acquisition, the chairman now directly owns 39,199 shares in the company, valued at $2,743,930. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 6,800 shares of company stock worth $479,015 and have sold 268,290 shares worth $25,452,666. 1.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Esterline Technologies by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock worth $104,000 after acquiring an additional 133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Esterline Technologies by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock worth $112,000 after acquiring an additional 120 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of Esterline Technologies by 57.4% during the 2nd quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock worth $129,000 after acquiring an additional 496 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Esterline Technologies by 100.0% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock worth $171,000 after acquiring an additional 900 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Esterline Technologies by 61.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,265 shares of the aerospace company’s stock worth $215,000 after acquiring an additional 865 shares in the last quarter. 92.01% of the stock is currently owned by institutional investors and hedge funds.
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About Esterline Technologies
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. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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