KeyCorp Begins Coverage on Circor International Inc. (CIR)
Investment analysts at KeyCorp began coverage on shares of Circor International Inc. (NYSE:CIR) in a research report issued to clients and investors on Tuesday. The firm set a “sector weight” rating on the stock.
Several other equities research analysts have also recently weighed in on CIR. Zacks Investment Research upgraded Circor International from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Tuesday, June 28th. Stifel Nicolaus decreased their price target on Circor International from $68.00 to $61.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Circor International currently has an average rating of “Hold” and a consensus target price of $49.50.
Shares of Circor International (NYSE:CIR) opened at 56.28 on Tuesday. The company’s 50-day moving average is $58.60 and its 200 day moving average is $54.40. Circor International has a 52-week low of $32.79 and a 52-week high of $62.87. The firm has a market capitalization of $924.29 million, a P/E ratio of 138.96 and a beta of 1.45.
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Circor International (NYSE:CIR) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. Circor International had a return on equity of 9.45% and a net margin of 1.09%. The business had revenue of $146.40 million for the quarter, compared to analysts’ expectations of $144.01 million. During the same period in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. Analysts expect that Circor International will post $2.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Wednesday, August 10th. Circor International’s dividend payout ratio (DPR) is 37.50%.
In related news, Director Douglas M. Hayes sold 3,000 shares of the company’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 transaction, the director now directly owns 14,556 shares in the company, valued at $890,390.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position 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 valued at $88,690,000 after buying an additional 10,700 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Circor International by 1.0% in the second quarter. Silvercrest Asset Management Group LLC now owns 598,573 shares of the company’s stock valued at $34,112,000 after buying an additional 6,105 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Circor International by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 367,614 shares of the company’s stock valued at $20,953,000 after buying an additional 60,403 shares in the last quarter. Norges Bank purchased a new stake in shares of Circor International during the fourth quarter valued at about $15,202,000. Finally, Macquarie Group Ltd. raised its stake in shares of Circor International by 3.1% in the second quarter. Macquarie Group Ltd. now owns 335,997 shares of the company’s stock valued at $19,148,000 after buying an additional 10,246 shares in the last quarter.
Circor International Company Profile
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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