B/E Aerospace Price Target Cut to $96.00 by Analysts at Jefferies Group (BEAV)
Research analysts at Jefferies Group reduced their target price on shares of B/E Aerospace (NASDAQ:BEAV) from $97.00 to $96.00 in a report released on Wednesday. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target points to a potential upside of 15.66% from the stock’s previous close.
Shares of B/E Aerospace (NASDAQ:BEAV) traded up 1.19% during mid-day trading on Wednesday, hitting $83.99. The stock had a trading volume of 477,419 shares. B/E Aerospace has a one year low of $69.44 and a one year high of $101.13. The stock has a 50-day moving average of $86.66 and a 200-day moving average of $89.22. The company has a market cap of $8.844 billion and a price-to-earnings ratio of 21.61. B/E Aerospace also was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,257,941 shares, a growth of 32.0% from the July 31st total of 3,226,550 shares. Approximately 4.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,299,922 shares, the days-to-cover ratio is presently 3.3 days.
B/E Aerospace (NASDAQ:BEAV) last released its earnings data on Wednesday, July 23rd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, analysts predict that B/E Aerospace will post $4.46 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of B/E Aerospace from $112.00 to $8.00 in a research note on Tuesday. Separately, analysts at Cowen and Company reiterated an “outperform” rating on shares of B/E Aerospace in a research note on Thursday, August 14th. They now have a $93.00 price target on the stock, down previously from $104.00. Finally, analysts at CRT Capital raised their price target on shares of B/E Aerospace from $100.00 to $106.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. B/E Aerospace has an average rating of “Buy” and an average price target of $95.88.
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets and distributor of aerospace fasteners and consumables.
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