Curtiss-Wright Corporation (CW) Lifted to “Buy” at Zacks Investment Research
Curtiss-Wright Corporation (NYSE:CW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $108.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.27% from the company’s current price.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Other research analysts also recently issued reports about the stock. SunTrust Banks, Inc. upgraded shares of Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $103.00 to $112.00 in a research report on Monday, June 5th. BidaskClub upgraded shares of Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $107.25.
Shares of Curtiss-Wright Corporation (NYSE CW) traded up 0.02% during mid-day trading on Thursday, reaching $96.20. 148,563 shares of the company traded hands. The stock’s 50 day moving average is $96.07 and its 200 day moving average is $92.92. The stock has a market capitalization of $4.25 billion, a PE ratio of 21.82 and a beta of 1.26. Curtiss-Wright Corporation has a 52-week low of $82.77 and a 52-week high of $107.61.
Curtiss-Wright Corporation (NYSE:CW) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The business had revenue of $567.70 million for the quarter, compared to analyst estimates of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, analysts anticipate that Curtiss-Wright Corporation will post $4.55 earnings per share for the current year.
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In other news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total transaction of $125,008.00. Following the completion of the transaction, the director now directly owns 14,960 shares of the company’s stock, valued at approximately $1,438,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of CW. BlackRock Inc. grew its stake in shares of Curtiss-Wright Corporation by 25,824.5% during the 1st quarter. BlackRock Inc. now owns 5,099,604 shares of the aerospace company’s stock worth $465,389,000 after acquiring an additional 5,079,933 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Curtiss-Wright Corporation during the 2nd quarter worth approximately $42,330,000. Voya Investment Management LLC grew its stake in shares of Curtiss-Wright Corporation by 137.8% during the 2nd quarter. Voya Investment Management LLC now owns 584,459 shares of the aerospace company’s stock worth $53,641,000 after acquiring an additional 338,718 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Curtiss-Wright Corporation by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 3,583,354 shares of the aerospace company’s stock worth $327,018,000 after acquiring an additional 331,982 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Curtiss-Wright Corporation during the 2nd quarter worth approximately $27,768,000. 76.62% of the stock is owned by institutional investors.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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