Zacks Investment Research Upgrades ESCO Technologies Inc. (ESE) to “Buy”
ESCO Technologies Inc. (NYSE:ESE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $68.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.68% from the company’s current price.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded ESCO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Wunderlich assumed coverage on ESCO Technologies in a research report on Tuesday, June 13th. They set a “buy” rating and a $71.00 price objective for the company. Finally, FBR & Co reiterated an “outperform” rating on shares of ESCO Technologies in a research report on Tuesday, July 11th. Five research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $67.00.
Shares of ESCO Technologies (NYSE:ESE) traded up 1.47% during trading on Tuesday, reaching $62.00. 94,583 shares of the company’s stock were exchanged. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 31.31 and a beta of 1.03. ESCO Technologies has a 12 month low of $42.95 and a 12 month high of $63.80. The stock has a 50-day moving average price of $55.77 and a 200 day moving average price of $57.97.
ESCO Technologies (NYSE:ESE) last announced its earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $172.00 million during the quarter, compared to analyst estimates of $172.00 million. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, analysts forecast that ESCO Technologies will post $2.08 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its holdings in ESCO Technologies by 3,191.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,909 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 1,851 shares during the last quarter. PNC Financial Services Group Inc. raised its position in ESCO Technologies by 7.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,116 shares of the scientific and technical instruments company’s stock worth $123,000 after acquiring an additional 152 shares during the period. Ameritas Investment Partners Inc. bought a new position in ESCO Technologies in the first quarter worth approximately $128,000. Royal Bank of Canada raised its position in ESCO Technologies by 332.1% in the second quarter. Royal Bank of Canada now owns 3,098 shares of the scientific and technical instruments company’s stock worth $184,000 after acquiring an additional 2,381 shares during the period. Finally, Amalgamated Bank bought a new position in ESCO Technologies in the first quarter worth approximately $200,000. Institutional investors own 94.10% of the company’s stock.
About ESCO Technologies
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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