Brokerages Set Esterline Technologies Corporation (ESL) Target Price at $92.33
Shares of Esterline Technologies Corporation (NYSE:ESL) have earned an average rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $92.33.
Several brokerages recently issued reports on ESL. Seaport Global Securities began coverage on Esterline Technologies Corporation in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $93.00 price target on the stock. Canaccord Genuity boosted their price target on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, August 4th. ValuEngine cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. SunTrust Banks, Inc. cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating and set a $106.00 price target on the stock. in a research report on Friday, November 10th. Finally, Goldman Sachs Group, Inc. (The) cut Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and dropped their price target for the company from $86.00 to $75.00 in a research report on Thursday, August 10th.
Esterline Technologies Corporation (ESL) traded up $0.25 on Friday, hitting $70.10. The stock had a trading volume of 275,500 shares, compared to its average volume of 156,808. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03. Esterline Technologies Corporation has a twelve month low of $69.10 and a twelve month high of $102.70. The firm has a market capitalization of $2,093.75, a PE ratio of 15.98, a P/E/G ratio of 1.45 and a beta of 1.54.
Esterline Technologies Corporation (NYSE:ESL) last posted its earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). Esterline Technologies Corporation had a return on equity of 7.68% and a net margin of 5.86%. The firm had revenue of $531.50 million for the quarter, compared to analyst estimates of $540.55 million. During the same quarter last year, the firm posted $1.96 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. equities research analysts forecast that Esterline Technologies Corporation will post 4.31 earnings per share for the current fiscal year.
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In other Esterline Technologies Corporation news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of Esterline Technologies Corporation stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total value of $693,815.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder J Richard Atwood sold 48,225 shares of Esterline Technologies Corporation stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $95.11, for a total value of $4,586,679.75. The disclosure for this sale can be found here. Insiders sold a total of 269,911 shares of company stock worth $25,692,702 in the last ninety days. 1.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ESL. Lord Abbett & CO. LLC purchased a new stake in Esterline Technologies Corporation in the 2nd quarter valued at approximately $26,478,000. Principal Financial Group Inc. boosted its holdings in Esterline Technologies Corporation by 212.3% in the 2nd quarter. Principal Financial Group Inc. now owns 378,783 shares of the aerospace company’s stock valued at $35,908,000 after purchasing an additional 257,500 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Esterline Technologies Corporation in the 3rd quarter valued at approximately $18,677,000. State of New Jersey Common Pension Fund D purchased a new stake in Esterline Technologies Corporation in the 3rd quarter valued at approximately $18,030,000. Finally, Vanguard Group Inc. boosted its holdings in Esterline Technologies Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 2,431,429 shares of the aerospace company’s stock valued at $209,225,000 after purchasing an additional 139,687 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.
About Esterline Technologies Corporation
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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