Cowen Reiterates “Hold” Rating for Woodward (WWD)

Woodward (NASDAQ:WWD)‘s stock had its “hold” rating reiterated by Cowen in a research note issued to investors on Sunday. They presently have a $62.00 target price on the technology company’s stock. Cowen’s price target would suggest a potential downside of 16.77% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. BidaskClub raised shares of Woodward from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Wood & Company downgraded shares of Woodward from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of Woodward from a “hold” rating to a “sell” rating in a report on Friday, October 27th. ValuEngine downgraded shares of Woodward from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, SunTrust Banks lifted their price objective on shares of Woodward to $77.00 and gave the stock a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Woodward presently has an average rating of “Hold” and a consensus target price of $77.71.

Shares of Woodward (WWD) opened at $74.49 on Friday. Woodward has a 52-week low of $65.22 and a 52-week high of $82.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.39 and a quick ratio of 1.28. The stock has a market cap of $4,602.68, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.84 and a beta of 1.23.

Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. Woodward had a net margin of 9.55% and a return on equity of 15.55%. The business had revenue of $606.79 million during the quarter, compared to the consensus estimate of $596.99 million. During the same quarter last year, the firm posted $0.99 EPS. Woodward’s revenue was up 2.7% compared to the same quarter last year. equities analysts forecast that Woodward will post 3.4 earnings per share for the current year.

In related news, Director Mary L. Petrovich sold 5,700 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $79.69, for a total value of $454,233.00. Following the sale, the director now directly owns 27,904 shares in the company, valued at approximately $2,223,669.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.93% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WWD. Advisor Group Inc. grew its holdings in Woodward by 9.8% during the 2nd quarter. Advisor Group Inc. now owns 1,654 shares of the technology company’s stock valued at $112,000 after buying an additional 147 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Woodward by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,190 shares of the technology company’s stock valued at $148,000 after buying an additional 190 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in Woodward during the 3rd quarter valued at about $203,000. CAPROCK Group Inc. purchased a new position in Woodward during the 3rd quarter valued at about $222,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Woodward by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,115 shares of the technology company’s stock valued at $211,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 72.19% of the company’s stock.

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Woodward Company Profile

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

Analyst Recommendations for Woodward (NASDAQ:WWD)

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