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Research analysts at Maxim Group boosted their price objective on shares of Woodward (NYSE:WWD) from $56.00 to $60.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Maxim Group’s price objective would indicate a potential upside of 14.39% from the stock’s previous close.

Shares of Woodward (NYSE:WWD) traded down 2.70% during mid-day trading on Wednesday, hitting $51.54. 455,843 shares of the company’s stock traded hands. Woodward has a 52 week low of $38.00 and a 52 week high of $55.76. The stock’s 50-day moving average is $49.06 and its 200-day moving average is $44.85. The company has a market cap of $3.394 billion and a price-to-earnings ratio of 21.67.

Woodward (NYSE:WWD) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.09. The company had revenue of $524.30 million for the quarter, compared to the consensus estimate of $507.20 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Woodward will post $2.41 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Woodward in a research note on Tuesday. They now have a $53.00 price target on the stock, up previously from $43.00. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Woodward in a research note on Tuesday. They now have a $55.00 price target on the stock, up previously from $51.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Woodward from $55.00 to $60.00 in a research note on Tuesday. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.50.

Woodward, Inc is a designer, manufacturer, and service provider of energy controls and optimization solutions.

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