Esterline Technologies Co. (ESL) Receives Consensus Rating of “Buy” from Analysts
Shares of Esterline Technologies Co. (NYSE:ESL) have received an average recommendation of “Buy” from the six research firms that are presently covering the firm. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $95.33.
A number of brokerages recently weighed in on ESL. Zacks Investment Research upgraded shares of Esterline Technologies from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Monday, May 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $92.00 price target on shares of Esterline Technologies in a research note on Thursday. Canaccord Genuity reiterated a “hold” rating and issued a $90.00 price target on shares of Esterline Technologies in a research note on Friday, May 5th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $106.00 price target (up previously from $96.00) on shares of Esterline Technologies in a research note on Friday, May 5th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Esterline Technologies in a research report on Thursday, January 19th. They set a “buy” rating and a $106.00 price objective for the company.
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Shares of Esterline Technologies (NYSE:ESL) traded up 0.05% during mid-day trading on Monday, reaching $92.55. 41,965 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $89.09 and a 200 day moving average price of $87.41. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.71 and a beta of 1.36. Esterline Technologies has a 12-month low of $56.72 and a 12-month high of $96.50.
Esterline Technologies (NYSE:ESL) last announced its quarterly earnings data on Thursday, May 4th. The aerospace company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29. The firm had revenue of $509.20 million during the quarter, compared to analysts’ expectations of $491.74 million. Esterline Technologies had a net margin of 5.61% and a return on equity of 9.51%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. Analysts anticipate that Esterline Technologies will post $4.96 EPS for the current fiscal year.
In other news, major shareholder Select Drawdown Fund L.P. Fpa sold 26,059 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $89.78, for a total transaction of $2,339,577.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert David George sold 17,100 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $90.10, for a total transaction of $1,540,710.00. Following the transaction, the chief financial officer now directly owns 32,060 shares in the company, valued at $2,888,606. The disclosure for this sale can be found here. Insiders sold a total of 99,525 shares of company stock worth $8,942,253 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC boosted its position in Esterline Technologies by 5.6% in the third quarter. LS Investment Advisors LLC now owns 1,915 shares of the aerospace company’s stock worth $146,000 after buying an additional 101 shares during the period. Elkfork Partners LLC bought a new position in Esterline Technologies during the fourth quarter worth $164,000. Invictus RG boosted its position in Esterline Technologies by 66.3% in the first quarter. Invictus RG now owns 2,252 shares of the aerospace company’s stock worth $194,000 after buying an additional 898 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Esterline Technologies by 35.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,331 shares of the aerospace company’s stock worth $208,000 after buying an additional 616 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Esterline Technologies during the third quarter worth approximately $213,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.
About Esterline Technologies
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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