Curtiss-Wright Corporation (CW) Downgraded to “Hold” at Zacks Investment Research
Curtiss-Wright Corporation (NYSE:CW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other research analysts have also issued reports on CW. SunTrust Banks, Inc. raised Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $106.75.
Shares of Curtiss-Wright Corporation (NYSE CW) traded up 0.31% during mid-day trading on Wednesday, reaching $96.75. The company’s stock had a trading volume of 126,618 shares. The company has a 50-day moving average of $95.37 and a 200-day moving average of $93.12. The firm has a market cap of $4.27 billion, a PE ratio of 21.95 and a beta of 1.25. Curtiss-Wright Corporation has a 12 month low of $82.77 and a 12 month high of $107.61.
Curtiss-Wright Corporation (NYSE:CW) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. Curtiss-Wright Corporation’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. On average, analysts predict that Curtiss-Wright Corporation will post $4.55 earnings per share for the current year.
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In other news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the transaction, the director now directly owns 14,960 shares in the company, valued at approximately $1,438,553.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CW. Public Employees Retirement System of Ohio boosted its position in shares of Curtiss-Wright Corporation by 12.0% in the second quarter. Public Employees Retirement System of Ohio now owns 2,392 shares of the aerospace company’s stock worth $220,000 after buying an additional 256 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Curtiss-Wright Corporation by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 677,570 shares of the aerospace company’s stock worth $62,271,000 after buying an additional 30,777 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Curtiss-Wright Corporation by 0.8% in the second quarter. Ameritas Investment Partners Inc. now owns 17,008 shares of the aerospace company’s stock worth $1,561,000 after buying an additional 141 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Curtiss-Wright Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 97,162 shares of the aerospace company’s stock worth $8,917,000 after buying an additional 408 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Curtiss-Wright Corporation by 46.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,220 shares of the aerospace company’s stock worth $2,560,000 after buying an additional 8,902 shares in the last quarter. 76.62% of the stock is currently owned by institutional investors.
Curtiss-Wright Corporation Company Profile
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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