Credit Suisse Group downgraded shares of Esterline Technologies (NYSE:ESL) from a neutral rating to an underperform rating in a research report report published on Friday morning, Marketbeat Ratings reports.
ESL has been the subject of a number of other reports. ValuEngine downgraded Esterline Technologies from a buy rating to a hold rating in a research report on Thursday, November 9th. Canaccord Genuity cut their target price on Esterline Technologies from $92.00 to $90.00 and set a hold rating for the company in a research report on Friday, November 10th. SunTrust Banks reiterated a buy rating on shares of Esterline Technologies in a research report on Thursday, October 12th. Zacks Investment Research upgraded Esterline Technologies from a strong sell rating to a hold rating in a research report on Wednesday, October 11th. Finally, Jefferies Group reiterated a hold rating and set a $83.00 target price on shares of Esterline Technologies in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Esterline Technologies currently has a consensus rating of Hold and an average price target of $80.17.
Shares of Esterline Technologies (ESL) opened at $75.40 on Friday. The firm has a market capitalization of $2,241.02, a price-to-earnings ratio of 19.33, a PEG ratio of 1.61 and a beta of 1.43. The company has a current ratio of 3.25, a quick ratio of 2.03 and a debt-to-equity ratio of 0.41. Esterline Technologies has a 1 year low of $68.30 and a 1 year high of $102.70.
Esterline Technologies (NYSE:ESL) last released its earnings results 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). The company had revenue of $531.50 million for the quarter, compared to the consensus estimate of $540.55 million. Esterline Technologies had a net margin of 5.86% and a return on equity of 7.68%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. sell-side analysts anticipate that Esterline Technologies will post 3.9 earnings per share for the current year.
In other Esterline Technologies news, Director Delores M. Etter purchased 1,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $72.13 per share, with a total value of $72,130.00. Following the acquisition, the director now owns 13,627 shares of the company’s stock, valued at $982,915.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $75.63, for a total value of $453,780.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 6,800 shares of company stock valued at $479,015 and have sold 268,290 shares valued at $25,452,666. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new position in Esterline Technologies in the 2nd quarter worth about $26,478,000. Fisher Asset Management LLC acquired a new position in Esterline Technologies in the 3rd quarter worth about $18,677,000. State of New Jersey Common Pension Fund D acquired a new position in Esterline Technologies in the 3rd quarter worth about $18,030,000. Walthausen & Co. LLC acquired a new position in Esterline Technologies in the 2nd quarter worth about $12,599,000. Finally, Fiduciary Management Inc. WI increased its holdings in Esterline Technologies by 14.5% in the 2nd quarter. Fiduciary Management Inc. WI now owns 972,956 shares of the aerospace company’s stock worth $92,236,000 after purchasing an additional 123,467 shares in the last quarter. 92.01% 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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