Circor International Inc. (CIR) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “CIRCOR International, Inc. designs, manufactures and distributes valves and related products and services for use in a wide range of applications to optimize the efficiency or ensure the safety of fluid-control systems. The valves and related fluid-control products we manufacture are used in processing industries; oil and gas production, pipeline construction and maintenance; aerospace, military and commercial aircraft; pharmaceutical, medical and analytical equipment; and maritime manufacturing and maintenance. “
A number of other equities research analysts have also recently issued reports on CIR. Stifel Nicolaus cut their price objective on shares of Circor International from $68.00 to $61.00 and set a buy rating for the company in a research note on Monday, August 1st. KeyCorp initiated coverage on shares of Circor International in a research note on Tuesday, September 20th. They issued a sector weight rating for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $49.50.
Shares of Circor International (NYSE:CIR) traded up 3.24% during trading on Friday, reaching $49.70. 41,877 shares of the company were exchanged. The stock has a market capitalization of $816.22 million, a PE ratio of 122.72 and a beta of 1.39. Circor International has a one year low of $32.79 and a one year high of $62.87. The stock has a 50-day moving average price of $58.07 and a 200-day moving average price of $55.70.
Circor International (NYSE:CIR) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The company earned $146.40 million during the quarter, compared to analysts’ expectations of $144.01 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue was down 12.3% on a year-over-year basis. Analysts forecast that Circor International will post $2.19 EPS for the current year.
In related news, Director Douglas M. Hayes sold 3,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $61.17, for a total value of $183,510.00. Following the completion of the transaction, the director now directly owns 14,556 shares in the company, valued at approximately $890,390.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. PineBridge Investments L.P. raised its position in shares of Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock valued at $119,000 after buying an additional 146 shares during the last quarter. Arizona State Retirement System raised its position in shares of Circor International by 2.4% in the second quarter. Arizona State Retirement System now owns 8,538 shares of the company’s stock valued at $487,000 after buying an additional 200 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Circor International by 2.1% in the second quarter. California Public Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,100,000 after buying an additional 400 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Circor International by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 56,405 shares of the company’s stock valued at $2,617,000 after buying an additional 506 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Circor International by 2.5% in the second quarter. Teachers Advisors Inc. now owns 25,986 shares of the company’s stock valued at $1,481,000 after buying an additional 638 shares during the last quarter.
Circor International Company Profile
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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