ValuEngine upgraded shares of Esterline Technologies (NYSE:ESL) from a hold rating to a buy rating in a report published on Friday morning.
A number of other equities analysts have also weighed in on the stock. Credit Suisse Group upped their price target on shares of Esterline Technologies from $63.00 to $66.00 and gave the stock an underperform rating in a research report on Tuesday, August 7th. Canaccord Genuity upped their price target on shares of Esterline Technologies from $76.00 to $85.00 and gave the stock a hold rating in a research report on Friday, August 3rd. Jefferies Financial Group reiterated a hold rating and issued a $92.00 price target on shares of Esterline Technologies in a research report on Friday, August 3rd. TheStreet upgraded shares of Esterline Technologies from a c rating to a b- rating in a research report on Monday, July 30th. Finally, Wells Fargo & Co restated a market perform rating and set a $95.00 target price (up previously from $84.00) on shares of Esterline Technologies in a research report on Monday, July 23rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Esterline Technologies currently has an average rating of Hold and a consensus price target of $81.88.
ESL opened at $92.05 on Friday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.04 and a beta of 1.23. Esterline Technologies has a 1-year low of $67.15 and a 1-year high of $96.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.39 and a quick ratio of 2.12.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. The business had revenue of $499.90 million during the quarter, compared to analyst estimates of $476.01 million. Esterline Technologies had a net margin of 2.62% and a return on equity of 5.91%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. equities research analysts anticipate that Esterline Technologies will post 3.73 earnings per share for the current fiscal year.
In related news, major shareholder Hawkeye Fund Fpa sold 2,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $73.20, for a total transaction of $146,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Esterline Technologies by 11.2% during the second quarter. Bank of New York Mellon Corp now owns 676,782 shares of the aerospace company’s stock worth $49,947,000 after acquiring an additional 67,892 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Esterline Technologies by 43.5% during the second quarter. Public Employees Retirement System of Ohio now owns 24,434 shares of the aerospace company’s stock worth $1,803,000 after acquiring an additional 7,412 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Esterline Technologies during the second quarter worth $4,733,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Esterline Technologies by 5.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 15,375 shares of the aerospace company’s stock worth $1,135,000 after acquiring an additional 840 shares during the last quarter. Finally, Cove Street Capital LLC boosted its position in shares of Esterline Technologies by 0.9% during the second quarter. Cove Street Capital LLC now owns 212,205 shares of the aerospace company’s stock worth $15,661,000 after acquiring an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.
About Esterline Technologies
Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.
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