Esterline Technologies Co. (ESL) Rating Reiterated by Canaccord Genuity
Esterline Technologies Co. (NYSE:ESL)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity in a note issued to investors on Thursday. They currently have a $86.00 price target on the aerospace company’s stock. Canaccord Genuity’s target price would suggest a potential downside of 0.52% from the stock’s current price.
Several other equities analysts also recently weighed in on the stock. Jefferies Group LLC downgraded shares of Esterline Technologies from a “buy” rating to a “hold” rating and set a $92.00 price target on the stock. in a report on Thursday, January 12th. Zacks Investment Research raised shares of Esterline Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, SunTrust Banks, Inc. started coverage on shares of Esterline Technologies in a report on Thursday, January 19th. They issued a “buy” rating and a $106.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.00.
Shares of Esterline Technologies (NYSE:ESL) opened at 86.45 on Thursday. Esterline Technologies has a 52 week low of $56.72 and a 52 week high of $96.50. The company’s 50 day moving average is $86.57 and its 200-day moving average is $84.80. The stock has a market capitalization of $2.57 billion, a PE ratio of 22.80 and a beta of 1.36.
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Esterline Technologies (NYSE:ESL) last issued its quarterly earnings results on Thursday, February 2nd. The aerospace company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.35. Esterline Technologies had a net margin of 5.61% and a return on equity of 9.51%. The business had revenue of $457.73 million for the quarter, compared to the consensus estimate of $447.17 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Esterline Technologies will post $4.79 earnings per share for the current year.
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In related news, CFO Robert David George sold 17,100 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $90.10, for a total transaction of $1,540,710.00. Following the sale, the chief financial officer now owns 32,060 shares of the company’s stock, valued at $2,888,606. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Select Drawdown Fund L.P. Fpa sold 113,666 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $88.98, for a total transaction of $10,114,000.68. The disclosure for this sale can be found here. Insiders sold 275,123 shares of company stock worth $24,581,207 in the last three months. Insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its position in Esterline Technologies by 74.6% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the aerospace company’s stock worth $113,000 after buying an additional 775 shares during the period. Bank of Montreal Can purchased a new position in Esterline Technologies during the second quarter worth approximately $117,000. Tower Research Capital LLC TRC purchased a new position in Esterline Technologies during the second quarter worth approximately $127,000. Public Employees Retirement System of Ohio increased its position in Esterline Technologies by 21.6% in the second quarter. Public Employees Retirement System of Ohio now owns 2,377 shares of the aerospace company’s stock worth $147,000 after buying an additional 423 shares during the period. Finally, First New York Securities LLC NY purchased a new position in Esterline Technologies during the third quarter worth approximately $152,000. 87.49% of the stock is currently owned by institutional investors.
Esterline Technologies Company Profile
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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