Esterline Technologies Corporation (NYSE:ESL) Downgraded by Credit Suisse Group
Esterline Technologies Corporation (NYSE:ESL) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday, MarketBeat reports.
A number of other equities analysts have also issued reports on ESL. Jefferies Group LLC reissued a “hold” rating and set a $92.00 price target on shares of Esterline Technologies Corporation in a report on Tuesday, July 25th. BidaskClub raised Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Canaccord Genuity reissued a “hold” rating and set a $86.00 price target on shares of Esterline Technologies Corporation in a report on Thursday, April 20th. Finally, Zacks Investment Research raised Esterline Technologies Corporation from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Esterline Technologies Corporation has a consensus rating of “Hold” and an average price target of $95.67.
Shares of Esterline Technologies Corporation (NYSE ESL) traded down 14.45% during trading on Friday, hitting $83.80. The stock had a trading volume of 673,657 shares. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 18.75 and a beta of 1.43. Esterline Technologies Corporation has a 12-month low of $64.99 and a 12-month high of $102.70. The stock’s 50-day moving average is $97.02 and its 200-day moving average is $91.51.
Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by $0.22. The firm had revenue of $503.80 million for the quarter, compared to analysts’ expectations of $522.38 million. Esterline Technologies Corporation had a return on equity of 9.36% and a net margin of 6.65%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.38 EPS. On average, equities research analysts expect that Esterline Technologies Corporation will post $4.88 EPS for the current year.
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In other Esterline Technologies Corporation news, CFO Robert David George sold 26,700 shares of Esterline Technologies Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $93.46, for a total value of $2,495,382.00. Following the sale, the chief financial officer now owns 29,960 shares of the company’s stock, valued at approximately $2,800,061.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of Esterline Technologies Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $96.50, for a total value of $749,805.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,170 shares of company stock worth $3,865,674. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of Esterline Technologies Corporation by 2.9% in the first quarter. LS Investment Advisors LLC now owns 2,104 shares of the aerospace company’s stock worth $181,000 after buying an additional 60 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Esterline Technologies Corporation during the second quarter worth $202,000. Oakbrook Investments LLC acquired a new stake in shares of Esterline Technologies Corporation during the second quarter worth $209,000. Invictus RG raised its stake in shares of Esterline Technologies Corporation by 66.3% in the first quarter. Invictus RG now owns 2,252 shares of the aerospace company’s stock worth $194,000 after buying an additional 898 shares in the last quarter. Finally, Perkins Coie Trust Co raised its stake in shares of Esterline Technologies Corporation by 7.9% in the second quarter. Perkins Coie Trust Co now owns 2,729 shares of the aerospace company’s stock worth $259,000 after buying an additional 200 shares in the last quarter. 90.38% of the stock is currently owned by institutional investors.
Esterline Technologies Corporation 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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