Investment analysts at Drexel Hamilton raised their target price on shares of Teledyne Technologies Incorporated (NYSE: TDY) from $55.00 to $60.00 in a note issued to investors on Monday. The firm currently has a “hold” rating on the stock.
The analysts wrote, “Revenues are targeted for modest 3.7% and 1.1% year-year gains, reflecting the tug and pull of waning defense exposure as civil programs accelerate. Q1 financials registered solid progress as Teledyne shifts gears from last decade’s push into military end markets towards higher value commercial.”
Shares of Teledyne Technologies Incorporated traded down 1.82% during mid-day trading on Monday, hitting $64.535. Teledyne Technologies Incorporated has a one year low of $43.82 and a one year high of $66.29. The company has a market cap of $2.401 billion and a P/E ratio of 9.46.
The company last announced its quarterly results on Wednesday, April 25th. It reported $0.96 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.91 EPS by $0.05. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Teledyne Technologies Incorporated will post $1.04 earnings per share next quarter.
Separately, analysts at Zacks upgraded shares of Teledyne Technologies Incorporated from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 31st.
Teledyne Technologies Incorporated (Teledyne) is a provider of electronic components and subsystems, instrumentation and communications products, including defense electronics, monitoring and control instrumentation for marine, environmental and industrial applications, harsh environment interconnect products, data acquisition and communications equipment for air transport and business aircraft, and components and subsystems for wireless and satellite communications.