Zacks Investment Research Lowers Circor International Inc. (CIR) to Sell
Circor International Inc. (NYSE:CIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “CIRCOR International, Inc. designs, manufactures and distributes valves and related products and services for use in a wide range of applications to optimize the efficiency or ensure the safety of fluid-control systems. The valves and related fluid-control products we manufacture are used in processing industries; oil and gas production, pipeline construction and maintenance; aerospace, military and commercial aircraft; pharmaceutical, medical and analytical equipment; and maritime manufacturing and maintenance. “
Several other research firms also recently issued reports on CIR. KeyCorp started coverage on shares of Circor International in a research note on Tuesday, September 20th. They set a “sector weight” rating on the stock. Stifel Nicolaus decreased their price objective on shares of Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Circor International currently has an average rating of “Hold” and a consensus target price of $49.50.
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Circor International (NYSE:CIR) traded down 9.32% on Friday, reaching $48.14. 414,052 shares of the company traded hands. The company has a 50-day moving average price of $58.43 and a 200-day moving average price of $55.69. Circor International has a 12 month low of $32.79 and a 12 month high of $62.87. The company has a market capitalization of $790.60 million, a P/E ratio of 118.86 and a beta of 1.39.
Circor International (NYSE:CIR) last released its quarterly earnings results on Friday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The firm had revenue of $146.40 million for the quarter, compared to the consensus estimate of $144.01 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. Equities research analysts expect that Circor International will post $2.19 EPS for the current year.
In other Circor International news, Director Douglas M. Hayes sold 3,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $61.17, for a total transaction of $183,510.00. Following the completion of the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $890,390.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CIR. PineBridge Investments L.P. raised its position in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock valued at $119,000 after buying an additional 146 shares during the period. BNP Paribas Arbitrage SA raised its position in Circor International by 104.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,411 shares of the company’s stock valued at $308,000 after buying an additional 2,767 shares during the period. Arizona State Retirement System raised its position in Circor International by 2.4% in the second quarter. Arizona State Retirement System now owns 8,538 shares of the company’s stock valued at $487,000 after buying an additional 200 shares during the period. Nisa Investment Advisors L.L.C. raised its position 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 valued at $770,000 after buying an additional 2,100 shares during the period. Finally, California Public Employees Retirement System raised its position in Circor International by 2.1% in the second quarter. California Public Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,100,000 after buying an additional 400 shares during the period.
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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