ESCO Technologies (ESE) Upgraded to “Hold” by Zacks Investment Research
ESCO Technologies (NYSE:ESE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
A number of other research analysts have also recently weighed in on the stock. Stephens set a $65.00 target price on shares of ESCO Technologies and gave the company an “equal weight” rating in a research note on Wednesday, December 6th. Needham & Company LLC upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Finally, B. Riley set a $71.00 price target on shares of ESCO Technologies and gave the company a “buy” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. ESCO Technologies has an average rating of “Buy” and a consensus price target of $68.75.
ESCO Technologies (ESE) traded down $2.45 on Tuesday, hitting $63.90. 137,900 shares of the company were exchanged, compared to its average volume of 128,882. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.38 and a current ratio of 2.01. ESCO Technologies has a 52 week low of $50.30 and a 52 week high of $66.80. The stock has a market cap of $1,714.21, a PE ratio of 30.87 and a beta of 1.05.
ESCO Technologies (NYSE:ESE) last released its earnings results on Tuesday, November 14th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. ESCO Technologies had a net margin of 7.83% and a return on equity of 8.64%. The company had revenue of $207.01 million for the quarter, compared to analysts’ expectations of $211.02 million. During the same quarter in the previous year, the company earned $0.67 EPS. ESCO Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. equities research analysts anticipate that ESCO Technologies will post 2.34 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ESE. PNC Financial Services Group Inc. increased its holdings in ESCO Technologies by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,158 shares of the scientific and technical instruments company’s stock valued at $129,000 after acquiring an additional 42 shares during the last quarter. Royal Bank of Canada increased its holdings in ESCO Technologies by 332.1% in the 2nd quarter. Royal Bank of Canada now owns 3,098 shares of the scientific and technical instruments company’s stock valued at $184,000 after acquiring an additional 2,381 shares during the last quarter. Citadel Advisors LLC bought a new stake in ESCO Technologies in the 3rd quarter valued at $201,000. Pinebridge Investments L.P. increased its holdings in ESCO Technologies by 1.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,403 shares of the scientific and technical instruments company’s stock valued at $203,000 after acquiring an additional 47 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in ESCO Technologies by 1.1% in the 2nd quarter. Amalgamated Bank now owns 3,485 shares of the scientific and technical instruments company’s stock valued at $208,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 95.64% of the company’s stock.
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About ESCO Technologies
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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