Zacks Investment Research Upgrades CIRCOR International, Inc. (CIR) to Buy
CIRCOR International, Inc. (NYSE:CIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $70.00 price objective on the industrial products company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 11.82% from the stock’s previous close.
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. “
Separately, Stifel Nicolaus upgraded CIRCOR International from a “hold” rating to a “buy” rating and decreased their target price for the stock from $74.00 to $68.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $62.75.
CIRCOR International (NYSE:CIR) opened at 62.60 on Wednesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 102.62 and a beta of 1.40. CIRCOR International has a 12-month low of $47.47 and a 12-month high of $72.96. The stock’s 50 day moving average is $58.98 and its 200 day moving average is $60.39.
CIRCOR International (NYSE:CIR) last issued its earnings results on Thursday, February 16th. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The company earned $158 million during the quarter, compared to analyst estimates of $150.90 million. CIRCOR International had a return on equity of 8.67% and a net margin of 3.23%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities research analysts forecast that CIRCOR International will post $2.21 EPS for the current fiscal year.
In other news, SVP Arjun Sharma sold 2,930 shares of CIRCOR International stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $60.65, for a total value of $177,704.50. Following the completion of the transaction, the senior vice president now owns 12,939 shares in the company, valued at approximately $784,750.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in CIRCOR International during the fourth quarter worth about $25,177,000. Russell Investments Group Ltd. bought a new position in CIRCOR International during the fourth quarter worth about $3,841,000. Silvercrest Asset Management Group LLC raised its position in CIRCOR International by 3.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 655,967 shares of the industrial products company’s stock worth $42,559,000 after buying an additional 22,456 shares in the last quarter. Citadel Advisors LLC bought a new position in CIRCOR International during the third quarter worth about $619,000. Finally, UBS Asset Management Americas Inc. raised its position in CIRCOR International by 33.0% in the third quarter. UBS Asset Management Americas Inc. now owns 31,362 shares of the industrial products company’s stock worth $1,868,000 after buying an additional 7,783 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
About CIRCOR International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).
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