Textron Price Target Increased to $45.00 by Analysts at Cowen and Company (TXT)
Investment analysts at Cowen and Company lifted their target price on shares of Textron (NYSE:TXT) from $40.00 to $45.00 in a note issued to investors on Thursday, AnalystRatingsNetwork.com reports. Cowen and Company’s price objective indicates a potential upside of 22.42% from the company’s current price.
Textron (NYSE:TXT) traded down 1.33% during mid-day trading on Thursday, hitting $36.27. 1,012,372 shares of the company’s stock traded hands. Textron has a 52 week low of $24.87 and a 52 week high of $37.43. The stock’s 50-day moving average is $32.86 and its 200-day moving average is $29.06. The company has a market cap of $10.197 billion and a price-to-earnings ratio of 21.97.
Textron (NYSE:TXT) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.12. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Textron will post $1.78 EPS for the current fiscal year.
A number of other firms have also recently commented on TXT. Analysts at Thomson Reuters/Verus downgraded shares of Textron from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Zacks downgraded shares of Textron from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, October 30th. They now have a $26.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Textron from $36.00 to $35.00 in a research note to investors on Tuesday, October 15th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Textron has an average rating of “Hold” and a consensus target price of $37.30.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide.
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