Esterline Technologies (NYSE:ESL) was upgraded by Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports. The brokerage currently has a $122.50 price objective on the aerospace company’s stock, up from their previous price objective of $66.00. Credit Suisse Group’s target price suggests a potential upside of 6.14% from the stock’s current price.
Several other research firms also recently commented on ESL. Jefferies Financial Group reissued a “hold” rating and issued a $92.00 target price on shares of Esterline Technologies in a research report on Friday, August 3rd. Canaccord Genuity boosted their target price 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. TheStreet raised shares of Esterline Technologies from a “c” rating to a “b-” rating in a report on Monday, July 30th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $95.00 price objective (up from $84.00) on shares of Esterline Technologies in a report on Monday, July 23rd. Finally, Alembic Global Advisors began coverage on shares of Esterline Technologies in a report on Friday, October 5th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $88.94.
ESL stock opened at $115.41 on Thursday. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.15 and a beta of 1.21. Esterline Technologies has a 12 month low of $67.15 and a 12 month high of $116.00.
Esterline Technologies (NYSE:ESL) last posted its earnings results on Thursday, August 2nd. The aerospace company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The company had revenue of $499.90 million during the quarter, compared to the consensus estimate 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 for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, equities research analysts predict that Esterline Technologies will post 3.73 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of ESL. Wells Fargo & Company MN boosted its holdings in shares of Esterline Technologies by 4.3% during the 1st quarter. Wells Fargo & Company MN now owns 148,808 shares of the aerospace company’s stock worth $10,885,000 after buying an additional 6,182 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Esterline Technologies by 45.7% during the 1st quarter. Russell Investments Group Ltd. now owns 39,440 shares of the aerospace company’s stock worth $2,885,000 after buying an additional 12,370 shares during the period. Sei Investments Co. boosted its holdings in shares of Esterline Technologies by 9.7% during the 1st quarter. Sei Investments Co. now owns 12,503 shares of the aerospace company’s stock worth $914,000 after buying an additional 1,101 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Esterline Technologies by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 388,543 shares of the aerospace company’s stock worth $28,422,000 after buying an additional 24,605 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of Esterline Technologies by 19.5% during the 1st quarter. Baird Financial Group Inc. now owns 18,564 shares of the aerospace company’s stock worth $1,358,000 after buying an additional 3,030 shares during the period. 94.22% of the stock is owned by institutional investors and hedge funds.
Esterline Technologies Company Profile
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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