Curtiss-Wright Corporation (CW) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Curtiss-Wright Corporation (NYSE:CW) from a hold rating to a buy rating in a report issued on Thursday morning. The firm currently has $108.00 target price on the aerospace company’s stock.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
A number of other brokerages have also issued reports on CW. SunTrust Banks, Inc. raised Curtiss-Wright Corporation from a hold rating to a buy rating and boosted their target price for the company from $103.00 to $112.00 in a research report on Monday, June 5th. BidaskClub raised Curtiss-Wright Corporation from a sell rating to a hold rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Curtiss-Wright Corporation presently has a consensus rating of Hold and an average price target of $107.25.
Shares of Curtiss-Wright Corporation (NYSE:CW) opened at 93.57 on Thursday. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $107.61. The stock has a 50 day moving average price of $95.04 and a 200 day moving average price of $93.22. The stock has a market capitalization of $4.13 billion, a P/E ratio of 21.23 and a beta of 1.25.
Curtiss-Wright Corporation (NYSE:CW) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. The company had revenue of $567.70 million for the quarter, compared to analyst estimates of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities analysts forecast that Curtiss-Wright Corporation will post $4.55 earnings per share for the current year.
In other news, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $125,008.00. Following the sale, the director now owns 14,960 shares of the company’s stock, valued at $1,438,553.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. TrimTabs Asset Management LLC raised its stake in Curtiss-Wright Corporation by 88.6% in the first quarter. TrimTabs Asset Management LLC now owns 1,175 shares of the aerospace company’s stock worth $107,000 after buying an additional 552 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in Curtiss-Wright Corporation by 7.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,408 shares of the aerospace company’s stock worth $129,000 after buying an additional 96 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Curtiss-Wright Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock worth $152,000 after buying an additional 143 shares in the last quarter. Neuburgh Advisers LLC raised its stake in Curtiss-Wright Corporation by 7.3% in the first quarter. Neuburgh Advisers LLC now owns 1,936 shares of the aerospace company’s stock worth $177,000 after buying an additional 132 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in Curtiss-Wright Corporation by 93.2% in the second quarter. Harbour Capital Advisors LLC now owns 16,520 shares of the aerospace company’s stock worth $180,000 after buying an additional 7,970 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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