B/E Aerospace Inc. (BEAV) Sets New 52-Week High Following Analyst Upgrade
B/E Aerospace Inc. (NASDAQ:BEAV) shares reached a new 52-week high during trading on Thursday after Deutsche Bank AG raised their price target on the stock from $55.00 to $66.00. Deutsche Bank AG currently has a buy rating on the stock. B/E Aerospace traded as high as $53.03 and last traded at $53.03, with a volume of 371,313 shares trading hands. The stock had previously closed at $52.60.
A number of other research analysts also recently issued reports on BEAV. Morgan Stanley started coverage on shares of B/E Aerospace in a research report on Thursday, June 23rd. They issued an “equal weight” rating on the stock. Zacks Investment Research upgraded shares of B/E Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, June 29th. Jefferies Group restated a “hold” rating on shares of B/E Aerospace in a research report on Monday, August 1st. Finally, KeyCorp restated a “buy” rating and issued a $56.00 price target on shares of B/E Aerospace in a research report on Wednesday, September 28th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. B/E Aerospace has a consensus rating of “Buy” and an average target price of $54.82.
A number of institutional investors have recently added to or reduced their stakes in BEAV. Thompson Siegel & Walmsley LLC boosted its position in B/E Aerospace by 177.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,217 shares of the company’s stock valued at $102,000 after buying an additional 1,417 shares during the last quarter. Advisor Group Inc. acquired a new position in B/E Aerospace during the second quarter valued at $106,000. FineMark National Bank & Trust raised its position in B/E Aerospace by 10.4% in the second quarter. FineMark National Bank & Trust now owns 2,839 shares of the company’s stock valued at $131,000 after buying an additional 268 shares during the period. Bessemer Group Inc. acquired a new position in B/E Aerospace during the first quarter valued at $171,000. Finally, CIBC Asset Management Inc raised its position in B/E Aerospace by 1.0% in the second quarter. CIBC Asset Management Inc now owns 5,299 shares of the company’s stock valued at $245,000 after buying an additional 52 shares during the period. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a market capitalization of $5.40 billion, a P/E ratio of 18.35 and a beta of 1.03. The firm’s 50-day moving average is $50.24 and its 200-day moving average is $48.08.
B/E Aerospace (NASDAQ:BEAV) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. B/E Aerospace had a net margin of 10.56% and a return on equity of 367.98%. The firm had revenue of $753 million for the quarter, compared to the consensus estimate of $714.04 million. During the same quarter in the previous year, the company earned $0.75 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that B/E Aerospace Inc. will post $3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.60%. B/E Aerospace’s dividend payout ratio is currently 28.97%.
About B/E Aerospace
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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