Esterline Technologies (NYSE:ESL) had its target price increased by investment analysts at Bank of America from $70.00 to $75.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “underperform” rating on the aerospace company’s stock. Bank of America’s target price suggests a potential upside of 10.05% from the stock’s current price.
Several other research firms have also commented on ESL. Credit Suisse Group lowered shares of Esterline Technologies from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. SunTrust Banks downgraded shares of Esterline Technologies from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research note on Friday, November 10th. ValuEngine raised shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Canaccord Genuity reaffirmed a “hold” rating on shares of Esterline Technologies in a research note on Friday, October 13th. Finally, Zacks Investment Research upgraded shares of Esterline Technologies from a “sell” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $79.71.
Shares of Esterline Technologies (NYSE:ESL) traded down $1.55 on Tuesday, hitting $68.15. 102,175 shares of the stock traded hands, compared to its average volume of 239,454. Esterline Technologies has a 52-week low of $67.80 and a 52-week high of $102.70. The stock has a market cap of $2,257.37, a PE ratio of 31.34, a PEG ratio of 1.65 and a beta of 1.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.46 and a quick ratio of 2.11.
In other news, Chairman Curtis C. Reusser purchased 2,900 shares of the stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $70.00 per share, for a total transaction of $203,000.00. Following the acquisition, the chairman now directly owns 39,199 shares of the company’s stock, valued at approximately $2,743,930. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $75.63, for a total transaction of $453,780.00. The disclosure for this sale can be found here. Insiders purchased 6,800 shares of company stock valued at $479,015 in the last 90 days. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its holdings in Esterline Technologies by 54.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,137 shares of the aerospace company’s stock worth $384,000 after buying an additional 1,813 shares during the period. Alps Advisors Inc. bought a new position in shares of Esterline Technologies in the fourth quarter valued at approximately $375,000. American Century Companies Inc. grew its holdings in shares of Esterline Technologies by 4,287.4% in the fourth quarter. American Century Companies Inc. now owns 242,359 shares of the aerospace company’s stock valued at $18,104,000 after acquiring an additional 236,835 shares in the last quarter. Dowling & Yahnke LLC bought a new position in shares of Esterline Technologies in the fourth quarter valued at approximately $217,000. Finally, Teton Advisors Inc. bought a new position in shares of Esterline Technologies in the fourth quarter valued at approximately $331,000. Institutional investors own 92.59% of the company’s stock.
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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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