Elbit Systems (ESLT) Cut to “Sell” at Zacks Investment Research

Elbit Systems (NASDAQ:ESLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Elbit Systems is a worldwide leader in Night Vision Goggles Head-Up Displays (“NVG-HUD”). They are a major supplier to the U.S Army and U.S. Marine Corps of Night Vision Head-Up Display systems for use in various types of helicopters. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications programs throughout the world. Their focus is on the upgrading of existing military platforms and developing new technologies for defense applications. “

Several other equities analysts also recently issued reports on ESLT. BidaskClub upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Standpoint Research downgraded shares of Elbit Systems from an “accumulate” rating to a “hold” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $143.00.

Shares of Elbit Systems (NASDAQ ESLT) traded down $1.14 during trading on Friday, reaching $138.36. 21,597 shares of the company’s stock were exchanged, compared to its average volume of 33,940. The company has a market capitalization of $6,160.42, a P/E ratio of 23.21 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.26 and a quick ratio of 0.82. Elbit Systems has a fifty-two week low of $98.73 and a fifty-two week high of $153.13.

Several institutional investors and hedge funds have recently bought and sold shares of ESLT. Wetherby Asset Management Inc. increased its holdings in Elbit Systems by 2.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,928 shares of the aerospace company’s stock worth $238,000 after buying an additional 41 shares during the period. Parallel Advisors LLC increased its holdings in Elbit Systems by 6.8% in the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the aerospace company’s stock worth $109,000 after buying an additional 55 shares during the period. Dimensional Fund Advisors LP increased its holdings in Elbit Systems by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,766 shares of the aerospace company’s stock worth $1,209,000 after buying an additional 108 shares during the period. PNC Financial Services Group Inc. increased its holdings in Elbit Systems by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,687 shares of the aerospace company’s stock worth $580,000 after buying an additional 194 shares during the period. Finally, US Bancorp DE increased its holdings in Elbit Systems by 13.4% in the 2nd quarter. US Bancorp DE now owns 2,080 shares of the aerospace company’s stock worth $257,000 after buying an additional 245 shares during the period. Hedge funds and other institutional investors own 11.15% of the company’s stock.

WARNING: “Elbit Systems (ESLT) Cut to “Sell” at Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/12/01/elbit-systems-eslt-cut-to-sell-at-zacks-investment-research.html.

About Elbit Systems

Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.

Get a free copy of the Zacks research report on Elbit Systems (ESLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Elbit Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elbit Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply