Zacks Investment Research lowered shares of Carlisle Companies (NYSE:CSL) from a hold rating to a sell rating in a research note released on Monday.
According to Zacks, “In the past three months, Carlisle’s shares underperformed the industry on average. Also, the stock looks overvalued compared to the industry. The company’s overseas business is exposed to headwinds like interest rate and currency fluctuations. Also, the company’s high research and development costs along with escalating input and freight costs, might drag down the company’s near-term profitability. The analyst community has taken a bearish stance on Carlisle. Notably, over the past couple of months, Zacks Consensus Estimate for the stock has moved south for both 2018 and 2019.”
Several other research analysts also recently weighed in on CSL. ValuEngine downgraded Carlisle Companies from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Oppenheimer restated a hold rating on shares of Carlisle Companies in a research note on Sunday, November 18th. BMO Capital Markets decreased their price objective on Carlisle Companies from $125.00 to $115.00 and set a market perform rating on the stock in a report on Wednesday, October 31st. Longbow Research raised Carlisle Companies from a neutral rating to a buy rating and set a $122.00 price objective on the stock in a report on Tuesday, November 13th. Finally, B. Riley set a $130.00 price objective on Carlisle Companies and gave the stock a buy rating in a report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $128.50.
CSL stock opened at $101.15 on Monday. Carlisle Companies has a 1-year low of $92.16 and a 1-year high of $129.47. The company has a quick ratio of 2.55, a current ratio of 3.27 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12.
Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.14). Carlisle Companies had a return on equity of 13.47% and a net margin of 14.21%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, sell-side analysts expect that Carlisle Companies will post 5.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. Carlisle Companies’s dividend payout ratio (DPR) is 28.93%.
In other news, Director David A. Roberts sold 36,533 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $127.52, for a total transaction of $4,658,688.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its holdings in Carlisle Companies by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 42,314 shares of the conglomerate’s stock valued at $4,583,000 after buying an additional 498 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Carlisle Companies by 8.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,136 shares of the conglomerate’s stock valued at $773,000 after buying an additional 556 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Carlisle Companies by 2.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 24,915 shares of the conglomerate’s stock valued at $2,699,000 after buying an additional 690 shares during the period. Aperio Group LLC raised its holdings in Carlisle Companies by 3.4% during the 3rd quarter. Aperio Group LLC now owns 21,143 shares of the conglomerate’s stock valued at $2,575,000 after buying an additional 694 shares during the period. Finally, Elk Creek Partners LLC raised its holdings in Carlisle Companies by 1.3% during the 3rd quarter. Elk Creek Partners LLC now owns 57,077 shares of the conglomerate’s stock valued at $6,952,000 after buying an additional 706 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diversified manufacturing company. The company's Carlisle Construction Materials segment provides insulation materials; thermoplastic polyolefin, ehtylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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