Esterline Technologies Corporation’s (ESL) “Hold” Rating Reaffirmed at Canaccord Genuity
A number of other brokerages also recently issued reports on ESL. BidaskClub raised shares of Esterline Technologies Corporation from a sell rating to a hold rating in a research report on Wednesday, July 19th. Credit Suisse Group downgraded shares of Esterline Technologies Corporation from an outperform rating to a neutral rating and reduced their target price for the company from $106.00 to $100.00 in a research report on Friday, August 4th. Jefferies Group LLC reissued a hold rating and set a $92.00 target price on shares of Esterline Technologies Corporation in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Esterline Technologies Corporation from a hold rating to a sell rating in a research report on Wednesday, July 5th. Finally, SunTrust Banks, Inc. reissued a buy rating on shares of Esterline Technologies Corporation in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $92.67.
Shares of Esterline Technologies Corporation (NYSE ESL) opened at 93.40 on Friday. Esterline Technologies Corporation has a 52 week low of $69.85 and a 52 week high of $102.70. The firm has a market capitalization of $2.80 billion, a P/E ratio of 20.81 and a beta of 1.49. The company has a 50-day moving average of $88.96 and a 200 day moving average of $91.57.
Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.22). Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The firm had revenue of $503.80 million during the quarter, compared to the consensus estimate of $522.38 million. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Esterline Technologies Corporation will post $4.64 earnings per share for the current year.
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In other news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $91.04, for a total transaction of $693,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Esterline Technologies Corporation by 25,619.9% during the 1st quarter. BlackRock Inc. now owns 3,502,276 shares of the aerospace company’s stock valued at $301,371,000 after acquiring an additional 3,488,659 shares during the period. Vanguard Group Inc. lifted its stake in shares of Esterline Technologies Corporation by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,454,359 shares of the aerospace company’s stock valued at $232,673,000 after buying an additional 22,930 shares in the last quarter. State Street Corp lifted its stake in shares of Esterline Technologies Corporation by 1.9% during the 2nd quarter. State Street Corp now owns 1,082,486 shares of the aerospace company’s stock valued at $102,617,000 after buying an additional 20,181 shares in the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of Esterline Technologies Corporation by 14.5% during the 2nd quarter. Fiduciary Management Inc. WI now owns 972,956 shares of the aerospace company’s stock valued at $92,236,000 after buying an additional 123,467 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Esterline Technologies Corporation by 12.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock valued at $88,653,000 after buying an additional 100,543 shares in the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.
Esterline Technologies Corporation Company Profile
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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