Woodward (WWD) Cut to “Sell” at Zacks Investment Research

Woodward (NASDAQ:WWD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

According to Zacks, “Woodward witnessed further deterioration of the natural gas truck market in China and continued weakness in reciprocating engine power generation and other OEM large capital equipment projects. Moreover, persistent weakness in large capital projects remains one of the major dampeners for Woodward's industrial segment. This business has been witnessing continuous weakness for the past few quarters, which in turn has affected its financial results. This may have led the company’s shares to underperform the broader industry in last one year. Nevertheless, it stands to benefit from increased global usage of natural gas as a source of electricity and transportation fuel.”

A number of other research analysts also recently commented on WWD. BidaskClub raised shares of Woodward from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 29th. Oppenheimer reaffirmed a “market perform” rating and set a $82.00 price objective on shares of Woodward in a research note on Thursday, October 26th. SunTrust Banks upped their price objective on shares of Woodward to $77.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. Cowen reaffirmed a “hold” rating and set a $62.00 price objective on shares of Woodward in a research note on Thursday, November 9th. Finally, ValuEngine downgraded shares of Woodward from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Woodward has a consensus rating of “Hold” and an average price target of $79.25.

Woodward (WWD) opened at $80.50 on Friday. Woodward has a one year low of $65.22 and a one year high of $84.23. The company has a current ratio of 2.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.42. The company has a market cap of $5,000.00, a PE ratio of 25.47, a PEG ratio of 1.95 and a beta of 1.24.

Woodward (NASDAQ:WWD) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. Woodward had a net margin of 9.55% and a return on equity of 15.55%. The company had revenue of $606.79 million during the quarter, compared to the consensus estimate of $596.99 million. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. sell-side analysts forecast that Woodward will post 3.39 earnings per share for the current year.

In other news, Director Mary L. Petrovich sold 5,700 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $79.69, for a total transaction of $454,233.00. Following the completion of the sale, the director now owns 27,904 shares in the company, valued at approximately $2,223,669.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.17% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Woodward by 1.2% during the 2nd quarter. State Street Corp now owns 1,767,393 shares of the technology company’s stock worth $119,435,000 after purchasing an additional 20,651 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Woodward by 12.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,122,239 shares of the technology company’s stock worth $88,623,000 after purchasing an additional 125,423 shares during the period. Northern Trust Corp grew its holdings in shares of Woodward by 1.2% during the 2nd quarter. Northern Trust Corp now owns 1,093,582 shares of the technology company’s stock worth $73,904,000 after purchasing an additional 13,494 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Woodward by 6.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 833,035 shares of the technology company’s stock worth $64,652,000 after purchasing an additional 50,208 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Woodward by 6.3% in the 3rd quarter. Brown Advisory Inc. now owns 788,898 shares of the technology company’s stock worth $61,226,000 after acquiring an additional 46,424 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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Woodward Company Profile

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

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