B/E Aerospace Inc. (BEAV) Stock Rating Lowered by Goldman Sachs Group Inc.
B/E Aerospace Inc. (NASDAQ:BEAV) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.
Several other brokerages have also issued reports on BEAV. KeyCorp reissued a “buy” rating and issued a $56.00 target price on shares of B/E Aerospace in a research report on Wednesday, September 28th. Jefferies Group reissued a “hold” rating on shares of B/E Aerospace in a report on Monday, August 1st. Zacks Investment Research raised B/E Aerospace from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, June 29th. Deutsche Bank AG lifted their target price on B/E Aerospace from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 5th. Finally, Morgan Stanley assumed coverage on B/E Aerospace in a report on Thursday, June 23rd. They issued an “equal weight” rating for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $55.42.
Shares of B/E Aerospace (NASDAQ:BEAV) traded down 0.04% on Wednesday, hitting $51.05. The stock had a trading volume of 454,332 shares. The stock has a market cap of $5.19 billion, a PE ratio of 17.65 and a beta of 1.03. B/E Aerospace has a 12 month low of $36.38 and a 12 month high of $53.25. The stock has a 50 day moving average of $50.61 and a 200-day moving average of $48.23.
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B/E Aerospace (NASDAQ:BEAV) last announced its earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. B/E Aerospace had a return on equity of 367.98% and a net margin of 10.56%. The firm earned $753 million during the quarter, compared to analyst estimates of $714.04 million. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that B/E Aerospace will post $3.26 EPS for the current year.
Several large investors have recently modified their holdings of BEAV. Thompson Siegel & Walmsley LLC boosted its stake in shares of B/E Aerospace by 177.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,217 shares of the company’s stock valued at $102,000 after buying an additional 1,417 shares during the period. Advisor Group Inc. bought a new stake in shares of B/E Aerospace during the second quarter valued at $106,000. FineMark National Bank & Trust boosted its stake in shares of B/E Aerospace by 10.4% in the second quarter. FineMark National Bank & Trust now owns 2,839 shares of the company’s stock valued at $131,000 after buying an additional 268 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of B/E Aerospace during the first quarter valued at $171,000. Finally, CIBC Asset Management Inc boosted its stake in shares of B/E Aerospace by 1.0% in the second quarter. CIBC Asset Management Inc now owns 5,299 shares of the company’s stock valued at $245,000 after buying an additional 52 shares during the last quarter. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
B/E Aerospace Company Profile
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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