Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price gapped up prior to trading on Monday . The stock had previously closed at $769.04, but opened at $812.93. Elbit Systems shares last traded at $823.3340, with a volume of 61,962 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on ESLT. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Morgan Stanley assumed coverage on Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Elbit Systems has a consensus rating of “Hold” and an average price target of $550.33.

Elbit Systems Stock Performance

The company’s fifty day moving average price is $689.60 and its two-hundred day moving average price is $561.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. The firm has a market capitalization of $36.59 billion, a PE ratio of 83.65, a price-to-earnings-growth ratio of 2.52 and a beta of 0.22.

Institutional Trading of Elbit Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Elbit Systems in the third quarter valued at $26,000. CoreCap Advisors LLC acquired a new position in shares of Elbit Systems in the 4th quarter valued at about $26,000. Traub Capital Management LLC purchased a new stake in shares of Elbit Systems during the 2nd quarter worth about $31,000. Financial Consulate Inc. acquired a new stake in Elbit Systems during the 3rd quarter worth approximately $60,000. Finally, Wexford Capital LP purchased a new position in Elbit Systems in the third quarter valued at approximately $63,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.