Esterline Technologies (NYSE:ESL)‘s stock had its “neutral” rating reaffirmed by analysts at Credit Suisse Group in a research report issued to clients and investors on Tuesday. They currently have a $70.00 target price on the aerospace company’s stock, down from their prior target price of $100.00. Credit Suisse Group’s price objective indicates a potential downside of 1.13% from the company’s current price.
Several other research analysts also recently weighed in on ESL. ValuEngine downgraded shares of Esterline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Seaport Global Securities assumed coverage on shares of Esterline Technologies in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $93.00 target price for the company. Canaccord Genuity reissued a “hold” rating and issued a $78.00 target price on shares of Esterline Technologies in a research note on Monday, November 27th. Zacks Investment Research raised shares of Esterline Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating on shares of Esterline Technologies in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $85.33.
Shares of Esterline Technologies (NYSE:ESL) opened at $70.80 on Tuesday. Esterline Technologies has a 1 year low of $68.30 and a 1 year high of $102.70. The company has a quick ratio of 2.03, a current ratio of 3.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $2,094.41, a PE ratio of 15.98, a P/E/G ratio of 1.49 and a beta of 1.43.
Esterline Technologies (NYSE:ESL) last released its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.26). Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The business had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $540.55 million. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Esterline Technologies’s quarterly revenue was down 2.3% on a year-over-year basis. analysts anticipate that Esterline Technologies will post 3.85 earnings per share for the current fiscal year.
In other news, major shareholder J Richard Atwood sold 31,155 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.04, for a total transaction of $2,992,126.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nils Larsen acquired 1,450 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $70.10 per share, with a total value of $101,645.00. Following the purchase, the director now owns 4,140 shares in the company, valued at $290,214. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 5,800 shares of company stock valued at $406,885 and have sold 269,911 shares valued at $25,692,702. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Esterline Technologies by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 83,065 shares of the aerospace company’s stock valued at $7,488,000 after acquiring an additional 1,265 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Esterline Technologies by 83.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 14,931 shares of the aerospace company’s stock valued at $1,346,000 after acquiring an additional 6,813 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Esterline Technologies during the 3rd quarter valued at about $1,037,000. Jane Street Group LLC acquired a new position in shares of Esterline Technologies during the 3rd quarter valued at about $470,000. Finally, Fiduciary Management Inc. WI increased its position in Esterline Technologies by 6.6% during the 3rd quarter. Fiduciary Management Inc. WI now owns 1,037,564 shares of the aerospace company’s stock worth $93,536,000 after purchasing an additional 64,608 shares in the last quarter. 91.26% of the stock is owned by institutional investors.
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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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