Esterline Technologies (ESL) Downgraded by Credit Suisse Group
Esterline Technologies (NYSE:ESL) was downgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research note issued on Friday, The Fly reports.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Esterline Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity dropped their target price on Esterline Technologies from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, November 10th. SunTrust Banks reissued a “hold” rating and issued a $82.00 target price on shares of Esterline Technologies in a report on Tuesday. ValuEngine raised Esterline Technologies from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Jefferies Group reissued a “hold” rating and issued a $83.00 target price on shares of Esterline Technologies in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Esterline Technologies presently has an average rating of “Hold” and a consensus price target of $80.17.
Esterline Technologies (NYSE:ESL) opened at $77.40 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 3.25. Esterline Technologies has a 52 week low of $68.30 and a 52 week high of $102.70. The company has a market capitalization of $2,270.00, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.43.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.26). Esterline Technologies had a return on equity of 8.25% and a net margin of 6.99%. The company had revenue of $531.50 million for the quarter, compared to analysts’ expectations of $540.55 million. During the same period in the prior year, the company posted $1.96 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. sell-side analysts predict that Esterline Technologies will post 3.85 EPS for the current fiscal year.
In other news, Chairman Curtis C. Reusser acquired 2,900 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $70.00 per share, with a total value of $203,000.00. Following the completion of the acquisition, the chairman now owns 39,199 shares in the company, valued at approximately $2,743,930. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Delores M. Etter acquired 1,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average cost of $72.13 per share, for a total transaction of $72,130.00. Following the acquisition, the director now owns 13,627 shares of the company’s stock, valued at approximately $982,915.51. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 6,800 shares of company stock worth $479,015 and have sold 268,290 shares worth $25,452,666. Company insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ESL. PNC Financial Services Group Inc. boosted its stake in shares of Esterline Technologies by 13.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock worth $104,000 after buying an additional 133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Esterline Technologies by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock worth $112,000 after buying an additional 120 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Esterline Technologies by 74.6% during the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the aerospace company’s stock worth $113,000 after buying an additional 775 shares during the period. Bank of Montreal Can acquired a new stake in shares of Esterline Technologies during the second quarter worth about $117,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Esterline Technologies in the second quarter valued at about $127,000. Institutional investors and hedge funds own 92.00% of the company’s stock.
About Esterline Technologies
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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