CIRCOR International, Inc. (CIR) Upgraded 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 research note issued on Monday.
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 have also recently issued reports on CIR. Stifel Nicolaus raised their price objective on CIRCOR International from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Seaport Global Securities cut CIRCOR International from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $70.00 to $60.00 in a report on Wednesday, June 21st. ValuEngine upgraded CIRCOR International from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Sidoti upgraded CIRCOR International from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, June 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.00.
CIRCOR International (NYSE CIR) traded down 1.22% during mid-day trading on Monday, hitting $57.50. The stock had a trading volume of 138,072 shares. The firm has a market cap of $948.41 million, a P/E ratio of 85.95 and a beta of 1.70. CIRCOR International has a 12-month low of $48.11 and a 12-month high of $72.96. The stock has a 50-day moving average price of $63.39 and a 200 day moving average price of $62.51.
CIRCOR International (NYSE:CIR) last posted its quarterly earnings data on Friday, April 28th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.03. CIRCOR International had a return on equity of 7.21% and a net margin of 1.88%. The business had revenue of $145.20 million for the quarter, compared to analyst estimates of $146.29 million. During the same quarter last year, the business earned $0.52 EPS. CIRCOR International’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that CIRCOR International will post $2.02 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of CIRCOR International by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 31,819 shares of the industrial products company’s stock worth $1,341,000 after buying an additional 500 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of CIRCOR International during the fourth quarter worth $1,626,000. Russell Investments Group Ltd. purchased a new position in shares of CIRCOR International during the fourth quarter worth $3,841,000. Investment Counselors of Maryland LLC purchased a new position in shares of CIRCOR International during the fourth quarter worth $12,414,000. Finally, Macquarie Group Ltd. boosted its position in shares of CIRCOR International by 3.1% in the second quarter. Macquarie Group Ltd. now owns 335,997 shares of the industrial products company’s stock worth $19,148,000 after buying an additional 10,246 shares during the last quarter.
About CIRCOR International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).
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