Zacks Investment Research Downgrades CIRCOR International (CIR) to Sell

CIRCOR International (NYSE:CIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, December 27th.

According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “

Several other equities research analysts also recently commented on the stock. KeyCorp upgraded shares of CIRCOR International from a “sector weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Monday, November 6th. Stifel Nicolaus lowered their price objective on shares of CIRCOR International from $66.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.00.

CIRCOR International (NYSE CIR) opened at $52.43 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 3.20 and a debt-to-equity ratio of 0.58. CIRCOR International has a 1-year low of $42.25 and a 1-year high of $72.96. The stock has a market cap of $865.12, a price-to-earnings ratio of 56.99 and a beta of 1.59.

CIRCOR International (NYSE:CIR) last released its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. CIRCOR International had a net margin of 2.50% and a return on equity of 6.30%. The business had revenue of $159.70 million for the quarter, compared to analyst estimates of $154.65 million. During the same period in the previous year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. sell-side analysts anticipate that CIRCOR International will post 1.62 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CIR. SG Americas Securities LLC acquired a new position in CIRCOR International during the third quarter valued at $121,000. Quantbot Technologies LP increased its holdings in CIRCOR International by 454.0% in the second quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock valued at $178,000 after buying an additional 2,470 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in CIRCOR International in the second quarter valued at $212,000. Municipal Employees Retirement System of Michigan increased its holdings in CIRCOR International by 59.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,190 shares of the industrial products company’s stock valued at $337,000 after buying an additional 2,320 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in CIRCOR International by 1.2% in the second quarter. Arizona State Retirement System now owns 8,638 shares of the industrial products company’s stock valued at $513,000 after buying an additional 100 shares in the last quarter.

TRADEMARK VIOLATION WARNING: This piece was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/01/14/circor-international-cir-cut-to-sell-at-zacks-investment-research.html.

CIRCOR International Company Profile

CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).

Get a free copy of the Zacks research report on CIRCOR International (CIR)

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

Analyst Recommendations for CIRCOR International (NYSE:CIR)

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

Leave a Reply