Curtiss-Wright Corporation (CW) Upgraded 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 research report released on Thursday. Zacks Investment Research currently has $106.00 price objective 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 weighed in on CW. SunTrust Banks, Inc. upgraded shares of Curtiss-Wright Corporation from a hold rating to a buy rating and boosted their price objective for the stock from $103.00 to $112.00 in a report on Monday, June 5th. BidaskClub upgraded shares of Curtiss-Wright Corporation from a sell rating to a hold rating in a report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Curtiss-Wright Corporation currently has a consensus rating of Hold and a consensus target price of $106.75.
Curtiss-Wright Corporation (NYSE:CW) traded up 0.83% on Thursday, hitting $96.13. The company had a trading volume of 73,778 shares. The company has a market capitalization of $4.24 billion, a P/E ratio of 21.81 and a beta of 1.25. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $107.61. The stock’s 50-day moving average price is $95.26 and its 200 day moving average price is $93.14.
Curtiss-Wright Corporation (NYSE:CW) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.16. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. The company had revenue of $567.70 million during the quarter, compared to analyst estimates of $546.73 million. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts expect that Curtiss-Wright Corporation will post $4.55 EPS for the current fiscal year.
In other Curtiss-Wright Corporation news, Director S Marce Fuller sold 1,300 shares of Curtiss-Wright Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now owns 14,960 shares of the company’s stock, valued at approximately $1,438,553.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Curtiss-Wright Corporation by 25,824.5% in the first quarter. BlackRock Inc. now owns 5,099,604 shares of the aerospace company’s stock worth $465,389,000 after buying an additional 5,079,933 shares during the period. Capital Research Global Investors acquired a new stake in shares of Curtiss-Wright Corporation during the second quarter worth about $42,330,000. Voya Investment Management LLC increased its stake in shares of Curtiss-Wright Corporation by 137.8% in the second quarter. Voya Investment Management LLC now owns 584,459 shares of the aerospace company’s stock worth $53,641,000 after buying an additional 338,718 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Curtiss-Wright Corporation by 10.2% in the first quarter. Vanguard Group Inc. now owns 3,583,354 shares of the aerospace company’s stock worth $327,018,000 after buying an additional 331,982 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Curtiss-Wright Corporation during the second quarter worth about $27,768,000. 77.44% of the stock is 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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