Esterline Technologies (ESL) Sees Large Volume Increase

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Shares of Esterline Technologies Co. (NYSE:ESL) saw strong trading volume on Thursday . 103,095 shares traded hands during trading, a decline of 54% from the previous session’s volume of 224,529 shares.The stock last traded at $115.47 and had previously closed at $115.41.

A number of analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of Esterline Technologies from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $122.50 in a report on Thursday. Alembic Global Advisors assumed coverage on shares of Esterline Technologies in a report on Friday, October 5th. They set an “overweight” rating for the company. ValuEngine upgraded shares of Esterline Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Canaccord Genuity raised their target price on shares of Esterline Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $92.00 target price on shares of Esterline Technologies in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Esterline Technologies presently has a consensus rating of “Hold” and an average target price of $88.94.

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.12 and a current ratio of 3.39. The stock has a market cap of $2.68 billion, a P/E ratio of 26.70, a P/E/G ratio of 2.15 and a beta of 1.21.

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

Large investors have recently modified their holdings of the stock. CHICAGO TRUST Co NA purchased a new stake in shares of Esterline Technologies in the 3rd quarter valued at approximately $240,000. Hartford Investment Management Co. purchased a new stake in shares of Esterline Technologies in the 2nd quarter valued at approximately $208,000. Bayesian Capital Management LP purchased a new stake in Esterline Technologies in the 1st quarter worth approximately $291,000. First Washington CORP purchased a new stake in Esterline Technologies in the 2nd quarter worth approximately $306,000. Finally, Northwestern Mutual Investment Management Company LLC lifted its position in Esterline Technologies by 54.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 5,352 shares of the aerospace company’s stock worth $391,000 after buying an additional 1,896 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

About Esterline Technologies (NYSE:ESL)

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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