Curtiss-Wright (CW) Hits New 52-Week High Following Analyst Upgrade

Curtiss-Wright Corporation (NYSE:CW) shares reached a new 52-week high during trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $126.00 to $139.00. Stifel Nicolaus currently has a hold rating on the stock. Curtiss-Wright traded as high as $131.49 and last traded at $128.74, with a volume of 264700 shares. The stock had previously closed at $127.64.

A number of other brokerages also recently issued reports on CW. Wells Fargo & Co raised Curtiss-Wright from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday. Zacks Investment Research downgraded Curtiss-Wright from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Bank of America raised Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a report on Monday, October 30th. Deutsche Bank reaffirmed a “buy” rating and set a $125.00 price target on shares of Curtiss-Wright in a report on Friday, October 6th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Curtiss-Wright in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $132.00.

In other news, Director Albert E. Smith sold 1,700 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $122.35, for a total value of $207,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn E. Tynan sold 7,918 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $120.00, for a total value of $950,160.00. Following the completion of the sale, the chief financial officer now directly owns 47,925 shares of the company’s stock, valued at $5,751,000. The disclosure for this sale can be found here. Insiders have sold a total of 50,290 shares of company stock valued at $5,969,585 over the last ninety days. 1.10% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its holdings in shares of Curtiss-Wright by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,297 shares of the aerospace company’s stock valued at $303,000 after purchasing an additional 18 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Curtiss-Wright by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,008 shares of the aerospace company’s stock valued at $1,561,000 after acquiring an additional 141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Curtiss-Wright by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 143 shares during the period. Amalgamated Bank increased its position in Curtiss-Wright by 3.7% in the 2nd quarter. Amalgamated Bank now owns 6,348 shares of the aerospace company’s stock valued at $583,000 after acquiring an additional 225 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Curtiss-Wright by 12.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,392 shares of the aerospace company’s stock valued at $220,000 after acquiring an additional 256 shares during the period. 76.17% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $5,790.00, a PE ratio of 27.23, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.48 and a current ratio of 2.08.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.21. The firm had revenue of $567.90 million for the quarter, compared to analysts’ expectations of $539.28 million. Curtiss-Wright had a return on equity of 15.60% and a net margin of 9.70%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. equities analysts forecast that Curtiss-Wright Corporation will post 4.75 earnings per share for the current year.

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Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.

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