Circor International Inc. (CIR) Rating Increased to Hold at Zacks Investment Research
Circor International Inc. (NYSE:CIR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other research analysts also recently weighed in on the stock. SunTrust Banks Inc. raised shares of Circor International from a “reduce” rating to a “hold” rating and raised their target price for the company from $46.00 to $55.00 in a research report on Friday. Stifel Nicolaus cut their price target on shares of Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Finally, KeyCorp began coverage on shares of Circor International in a research note on Tuesday, September 20th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Circor International currently has an average rating of “Buy” and an average target price of $55.20.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/circor-international-inc-cir-rating-increased-to-hold-at-zacks-investment-research.html
Circor International (NYSE:CIR) traded up 2.22% during mid-day trading on Tuesday, reaching $54.76. 207,707 shares of the company were exchanged. Circor International has a 12-month low of $32.79 and a 12-month high of $62.87. The company’s 50 day moving average price is $56.25 and its 200-day moving average price is $55.96. The stock has a market capitalization of $899.32 million, a price-to-earnings ratio of 135.21 and a beta of 1.39.
Circor International (NYSE:CIR) last released its earnings results on Friday, July 29th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business earned $146.40 million during the quarter, compared to the consensus estimate of $144.01 million. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities research analysts forecast that Circor International will post $2.19 earnings per share for the current fiscal year.
In other news, Director Douglas M. Hayes sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 14,556 shares in the company, valued at approximately $890,390.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of CIR. Thrivent Financial for Lutherans boosted its stake in Circor International by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 97,566 shares of the company’s stock worth $5,560,000 after buying an additional 700 shares in the last quarter. Netols Asset Management Inc. boosted its stake in Circor International by 59.1% in the second quarter. Netols Asset Management Inc. now owns 115,032 shares of the company’s stock worth $6,556,000 after buying an additional 42,709 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Circor International by 2.5% in the second quarter. Teachers Advisors Inc. now owns 25,986 shares of the company’s stock worth $1,481,000 after buying an additional 638 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock worth $119,000 after buying an additional 146 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Circor International by 35.5% in the second quarter. Ameriprise Financial Inc. now owns 103,139 shares of the company’s stock worth $5,878,000 after buying an additional 27,019 shares in the last quarter.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Circor International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Circor International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.