KeyCorp Begins Coverage on Circor International Inc. (CIR)
Stock analysts at KeyCorp began coverage on shares of Circor International Inc. (NYSE:CIR) in a report released on Tuesday. The brokerage set a “sector weight” rating on the stock.
A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Zacks Investment Research cut shares of Circor International from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.50.
Circor International (NYSE:CIR) traded up 0.78% during midday trading on Tuesday, reaching $56.72. 123,625 shares of the company’s stock were exchanged. Circor International has a 52 week low of $32.79 and a 52 week high of $62.87. The stock’s 50 day moving average is $58.60 and its 200 day moving average is $54.40. The firm has a market capitalization of $931.51 million, a P/E ratio of 140.05 and a beta of 1.45.
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Circor International (NYSE:CIR) last announced its earnings results on Friday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The company earned $146.40 million during the quarter, compared to analysts’ expectations of $144.01 million. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, analysts expect that Circor International will post $2.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, August 10th. Circor International’s dividend payout ratio is presently 37.50%.
In related news, Director Douglas M. Hayes sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $61.17, for a total value of $183,510.00. Following the completion of the sale, the director now directly owns 14,556 shares in the company, valued at $890,390.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Circor International by 1.4% in the first quarter. Geode Capital Management LLC now owns 112,944 shares of the company’s stock worth $5,239,000 after buying an additional 1,525 shares during the last quarter. Norges Bank bought a new stake in Circor International during the fourth quarter worth about $15,202,000. Nisa Investment Advisors L.L.C. increased its stake in Circor International by 14.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,600 shares of the company’s stock worth $770,000 after buying an additional 2,100 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Circor International by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 1,556,241 shares of the company’s stock worth $88,690,000 after buying an additional 10,700 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in Circor International during the second quarter worth about $3,387,000.
About Circor International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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