ValuEngine Upgrades Esterline Technologies (ESL) to Buy
Esterline Technologies (NYSE:ESL) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other analysts have also recently issued reports on ESL. Credit Suisse Group cut Esterline Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Friday, August 4th. Canaccord Genuity upped their price objective on Esterline Technologies from $90.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, August 4th. Jefferies Group reaffirmed a “hold” rating and set a $90.00 price objective (down from $92.00) on shares of Esterline Technologies in a report on Wednesday, August 9th. Goldman Sachs Group cut Esterline Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $86.00 to $75.00 in a report on Thursday, August 10th. Finally, Seaport Global Securities began coverage on Esterline Technologies in a report on Tuesday, September 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $90.33.
Esterline Technologies (NYSE ESL) traded down $0.90 during midday trading on Friday, reaching $69.95. The company had a trading volume of 290,518 shares, compared to its average volume of 342,178. The company has a current ratio of 3.25, a quick ratio of 2.03 and a debt-to-equity ratio of 0.41. Esterline Technologies has a one year low of $68.30 and a one year high of $102.70. The stock has a market cap of $2,097.38, a PE ratio of 16.01, a PEG ratio of 1.50 and a beta of 1.44.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). The business had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $540.55 million. Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share. sell-side analysts predict that Esterline Technologies will post 3.85 earnings per share for the current fiscal year.
In related news, Director Nils Larsen purchased 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $70.51 per share, for a total transaction of $102,239.50. Following the acquisition, the director now owns 2,690 shares of the company’s stock, valued at approximately $189,671.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Curtis C. Reusser purchased 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $70.00 per share, for a total transaction of $203,000.00. Following the acquisition, the chairman now directly owns 39,199 shares in the company, valued at approximately $2,743,930. The disclosure for this purchase can be found here. Insiders have sold a total of 269,911 shares of company stock worth $25,692,702 in the last 90 days. 1.40% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in ESL. Teachers Advisors LLC grew its position in Esterline Technologies by 4.9% in the 1st quarter. Teachers Advisors LLC now owns 58,277 shares of the aerospace company’s stock valued at $5,015,000 after acquiring an additional 2,746 shares during the last quarter. Bank of Montreal Can grew its position in Esterline Technologies by 874.0% in the 2nd quarter. Bank of Montreal Can now owns 30,505 shares of the aerospace company’s stock valued at $2,892,000 after acquiring an additional 27,373 shares during the last quarter. LS Investment Advisors LLC grew its position in Esterline Technologies by 15.4% in the 2nd quarter. LS Investment Advisors LLC now owns 2,427 shares of the aerospace company’s stock valued at $230,000 after acquiring an additional 323 shares during the last quarter. Aperio Group LLC grew its position in shares of Esterline Technologies by 19.2% during the 2nd quarter. Aperio Group LLC now owns 5,353 shares of the aerospace company’s stock worth $507,000 after buying an additional 861 shares in the last quarter. Finally, State Treasurer State of Michigan grew its position in shares of Esterline Technologies by 1.7% during the 2nd quarter. State Treasurer State of Michigan now owns 12,300 shares of the aerospace company’s stock worth $1,166,000 after buying an additional 200 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.
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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