Rockwell Collins, Inc. (COL) Downgraded by Canaccord Genuity to Hold
Rockwell Collins, Inc. (NYSE:COL) was downgraded by equities research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $140.00 price objective on the aerospace company’s stock, up from their prior price objective of $125.00. Canaccord Genuity’s target price would indicate a potential upside of 6.87% from the stock’s current price.
The analysts wrote, “Date and time of first dissemination: September 05, 2017, 04:40 ET Date and time of production: September 05, 2017, 04:40 ET Target Price / Valuation Methodology: Rockwell Collins – COL Our price target of $125 is based on the blend of a 17x EPS and a 11x EBITDA, applied to our FY18 estimates. Risks to achieving Target Price / Valuation: Rockwell Collins – COL Key risks to our COL investment thesis include the following: commercial aircraft development programs and timing; production rates and schedules; airline maintenance spending and upgrade schedules; mandates and discretionary aftermarket spending; used material and its impact on demand and pricing; passenger traffic; business jet production schedules; fuel and commodity prices; interest rates and the availability of financing for business jet and commercial transport aircraft purchases; military spending; federal deficit reduction plans and implementation; international defense spending; troop levels in Afghanistan and military activity. Distribution of Ratings: Global Stock Ratings (as of 09/05/17) Rating Coverage Universe IB Clients # % % Buy 591 60.68% 39.59% Hold 276 28.34% 23.55% Sell 23 2.36% 8.70% Speculative Buy 84 8.62% 70.24% 974* 100.0% *Total includes stocks that are Under Review Canaccord Genuity Ratings System BUY: The stock is expected to generate risk-adjusted returns of over 10% during the next 12 months. HOLD: The stock is expected to generate risk-adjusted returns of 0-10% during the next 12 months. SELL: The stock is expected to generate negative risk-adjusted returns during the next 12 months. NOT RATED: Canaccord Genuity does not provide research coverage of the relevant issuer.””
Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank AG cut shares of Rockwell Collins from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday. Vertical Research cut shares of Rockwell Collins from a “buy” rating to a “hold” rating and lowered their target price for the stock from $143.00 to $140.00 in a research note on Tuesday. Buckingham Research reaffirmed a “neutral” rating on shares of Rockwell Collins in a research note on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $115.00 target price on shares of Rockwell Collins in a research note on Sunday. Finally, ValuEngine raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $120.20.
Rockwell Collins (COL) traded down 0.080% during trading on Tuesday, hitting $130.895. 1,983,603 shares of the stock traded hands. The stock has a market cap of $21.27 billion, a P/E ratio of 25.976 and a beta of 0.75. Rockwell Collins has a 52-week low of $78.54 and a 52-week high of $135.31. The stock has a 50 day moving average price of $120.69 and a 200-day moving average price of $106.90.
Rockwell Collins (NYSE:COL) last released its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, analysts anticipate that Rockwell Collins will post $6.09 EPS for the current fiscal year.
Rockwell Collins announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in Rockwell Collins by 0.4% in the 2nd quarter. CWM LLC now owns 1,216 shares of the aerospace company’s stock valued at $128,000 after buying an additional 5 shares during the period. Montecito Bank & Trust raised its holdings in Rockwell Collins by 0.5% in the 1st quarter. Montecito Bank & Trust now owns 2,666 shares of the aerospace company’s stock valued at $259,000 after buying an additional 12 shares during the period. Janney Capital Management LLC raised its holdings in Rockwell Collins by 0.3% in the 2nd quarter. Janney Capital Management LLC now owns 4,665 shares of the aerospace company’s stock valued at $490,000 after buying an additional 15 shares during the period. United Capital Financial Advisers LLC raised its holdings in Rockwell Collins by 0.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 5,783 shares of the aerospace company’s stock valued at $562,000 after buying an additional 17 shares during the period. Finally, Cleararc Capital Inc. raised its holdings in Rockwell Collins by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 3,199 shares of the aerospace company’s stock valued at $311,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 77.86% of the company’s stock.
About Rockwell Collins
Rockwell Collins, Inc designs, produces and supports communications and aviation systems for commercial and military customers. The Company provides information management services through voice and data communication networks and solutions across the world. The Company operates through three segments: Commercial Systems, Government Systems and Information Management Services.
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