Esterline Technologies Corp. Receives New Coverage from Analysts at Canaccord Genuity (ESL)
Stock analysts at Canaccord Genuity started coverage on shares of Esterline Technologies Corp. (NYSE:ESL) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “We are initiating coverage of Esterline Technologies (ESL) with a HOLD rating and an $85 price target. We believe positive catalysts from new management and commercial market strength are likely to be offset by continued timing risk on defense revenues and 2014 aftermarket upside. We also see risk to F2014 estimates.”
In other Esterline Technologies Corp. news, CFO Robert David George unloaded 12,000 shares of Esterline Technologies Corp. stock on the open market in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $79.31, for a total value of $951,720.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Esterline Technologies Corp. (NYSE:ESL) traded up 1.05% on Wednesday, hitting $77.93. 13,433 shares of the company’s stock traded hands. Esterline Technologies Corp. has a one year low of $54.77 and a one year high of $85.30. The stock has a 50-day moving average of $79.68 and a 200-day moving average of $77.20. The company has a market cap of $2.445 billion and a P/E ratio of 15.18.
Esterline Technologies Corp. (NYSE:ESL) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.12. The company had revenue of $478.10 million for the quarter, compared to the consensus estimate of $505.90 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Esterline Technologies Corp. will post $5.30 EPS for the current fiscal year.
A number of other firms have also recently commented on ESL. Analysts at Merrill Lynch downgraded shares of Esterline Technologies Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, September 27th. Separately, analysts at Bank of America Corp. downgraded shares of Esterline Technologies Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, September 27th. They now have a $77.00 price target on the stock, up previously from $76.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Esterline Technologies Corp. in a research note to investors on Friday, August 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $77.76.
Esterline Technologies Corporation (NYSE:ESL) is a manufacturing company serving aerospace and defense customers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.