Carlisle Companies (NYSE:CSL) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Carlisle Companies Incorporated (NYSE:CSL)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $352.44 and traded as high as $371.75. Carlisle Companies shares last traded at $370.1410, with a volume of 690,367 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSL. Robert W. Baird set a $410.00 price objective on shares of Carlisle Companies in a report on Thursday. DA Davidson set a $355.00 target price on Carlisle Companies in a research note on Friday, October 9th. Truist Financial decreased their price target on Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Carlisle Companies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $395.83.

Carlisle Companies Trading Up 1.0%

The company has a market cap of $14.90 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.17 and a beta of 0.84. The stock’s 50-day moving average is $337.02 and its two-hundred day moving average is $352.53. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04.

Carlisle Companies (NYSE:CSL) last issued its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $5.92 EPS for the quarter, topping the consensus estimate of $5.89 by $0.03. Carlisle Companies had a return on equity of 49.35% and a net margin of 13.78%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $5.61 earnings per share. Carlisle Companies’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Carlisle Companies Incorporated will post 21.14 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, August 19th. This is a boost from Carlisle Companies’s previous quarterly dividend of $1.10. Carlisle Companies’s dividend payout ratio (DPR) is currently 28.26%.

Hedge Funds Weigh In On Carlisle Companies

A number of hedge funds have recently made changes to their positions in CSL. Chicago Partners Investment Group LLC purchased a new position in Carlisle Companies in the third quarter valued at about $314,000. Greenfield Seitz Capital Management LLC boosted its position in shares of Carlisle Companies by 0.8% in the third quarter. Greenfield Seitz Capital Management LLC now owns 14,878 shares of the conglomerate’s stock worth $4,793,000 after buying an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Carlisle Companies in the third quarter valued at about $29,000. ProShare Advisors LLC grew its stake in shares of Carlisle Companies by 12.1% in the third quarter. ProShare Advisors LLC now owns 84,282 shares of the conglomerate’s stock valued at $27,153,000 after buying an additional 9,067 shares in the last quarter. Finally, Vise Technologies Inc. raised its holdings in shares of Carlisle Companies by 30.1% during the 3rd quarter. Vise Technologies Inc. now owns 2,099 shares of the conglomerate’s stock valued at $676,000 after buying an additional 486 shares during the period. Institutional investors own 89.52% of the company’s stock.

About Carlisle Companies

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on products and solutions for the building envelope. Through its construction materials businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, air and vapor barriers, and related components designed to improve the energy efficiency, durability, and performance of buildings.

Carlisle’s product portfolio includes single-ply roofing membranes, roof coatings, metal roofing systems, polyisocyanurate and expanded polystyrene insulation, sealants, and other building-envelope products.