Esterline Technologies (ESL) Lifted to Neutral at Credit Suisse Group

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Esterline Technologies (NYSE:ESL) was upgraded by equities researchers at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a $122.50 target price on the aerospace company’s stock, up from their prior target price of $66.00. Credit Suisse Group’s price target would suggest a potential upside of 5.17% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TheStreet raised Esterline Technologies from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Canaccord Genuity upped their target price on Esterline Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Wells Fargo & Co reissued a “market perform” rating and issued a $95.00 target price (up from $84.00) on shares of Esterline Technologies in a research report on Monday, July 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $92.00 target price on shares of Esterline Technologies in a research report on Friday, August 3rd. Finally, Alembic Global Advisors assumed coverage on Esterline Technologies in a research report on Friday, October 5th. They issued an “overweight” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Esterline Technologies has a consensus rating of “Hold” and a consensus price target of $88.94.

Shares of NYSE ESL traded up $1.11 during trading hours on Thursday, reaching $116.48. The stock had a trading volume of 1,183,532 shares, compared to its average volume of 240,892. The stock has a market cap of $2.68 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.15 and a beta of 1.21. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41. Esterline Technologies has a fifty-two week low of $67.15 and a fifty-two week high of $116.73.

Esterline Technologies (NYSE:ESL) last announced its earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The firm had revenue of $499.90 million during the quarter, compared to analysts’ expectations of $476.01 million. Esterline Technologies had a return on equity of 5.91% and a net margin of 2.62%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Sell-side analysts anticipate that Esterline Technologies will post 3.73 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY lifted its position in Esterline Technologies by 5.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,375 shares of the aerospace company’s stock worth $1,135,000 after acquiring an additional 840 shares during the period. American Century Companies Inc. lifted its position in Esterline Technologies by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 246,602 shares of the aerospace company’s stock worth $18,199,000 after acquiring an additional 873 shares during the period. Sei Investments Co. lifted its position in Esterline Technologies by 9.7% during the 1st quarter. Sei Investments Co. now owns 12,503 shares of the aerospace company’s stock worth $914,000 after acquiring an additional 1,101 shares during the period. Alps Advisors Inc. lifted its position in Esterline Technologies by 10.5% during the 2nd quarter. Alps Advisors Inc. now owns 14,062 shares of the aerospace company’s stock worth $1,038,000 after acquiring an additional 1,335 shares during the period. Finally, Barclays PLC lifted its position in Esterline Technologies by 30.6% during the 1st quarter. Barclays PLC now owns 5,832 shares of the aerospace company’s stock worth $426,000 after acquiring an additional 1,368 shares during the period. 94.22% of the stock is owned by institutional investors.

About Esterline Technologies

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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