Esterline Technologies Corp. Lowered to “Underperform” at Zacks (ESL)
Esterline Technologies Corp. (NYSE:ESL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, American Banking and Market News reports. They currently have a $100.00 price target on the stock. Zacks‘ price objective suggests a potential downside of 1.92% from the company’s current price.
In other Esterline Technologies Corp. news, CAO Gary Posner sold 7,300 shares of the stock on the open market in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $96.62, for a total transaction of $705,326.00. Following the transaction, the chief accounting officer now directly owns 789 shares in the company, valued at approximately $76,233. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on ESL. Analysts at Canaccord Genuity raised their price target on shares of Esterline Technologies Corp. from $85.00 to $90.00 in a research note to investors on Friday, December 6th. They now have a “hold” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Esterline Technologies Corp. from $83.00 to $90.00 in a research note to investors on Tuesday, December 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Esterline Technologies Corp. from $93.00 to $100.00 in a research note to investors on Wednesday, November 20th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $89.86.
Shares of Esterline Technologies Corp. (NYSE:ESL) traded up 1.03% on Wednesday, hitting $101.96. The stock had a trading volume of 155,305 shares. Esterline Technologies Corp. has a one year low of $62.61 and a one year high of $102.44. The stock’s 50-day moving average is $90.84 and its 200-day moving average is $81.98. The company has a market cap of $3.219 billion and a P/E ratio of 19.45.
Esterline Technologies Corp. (NYSE:ESL) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.79 by $0.28. The company had revenue of $534.20 million for the quarter, compared to the consensus estimate of $551.48 million. During the same quarter last year, the company posted $1.97 earnings per share. Esterline Technologies Corp.’s revenue was up .7% compared to the same quarter last year.
Esterline Technologies Corporation (NYSE:ESL) is a manufacturing company serving aerospace and defense customers.
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