SAFRAN/ADR (OTCMKTS:SAFRY) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of SAFRAN/ADR (OTCMKTS:SAFRY) from a buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Safran S.A. is a France-based high-technology company which produces aircraft and rocket engines and propulsion systems. It divides its work into three segments: Aerospace, Aircraft and Defense. The Aerospace Propulsion division provides engines, turbines and parts for aircraft, and rocket boosters for civil, military and spatial markets. The Aircraft Equipment division produces landing gear, wheels and carbon brakes, aircraft engine nacelles and airborne power electronics. The Defense division includes the subsidiary, Sagem, and makes systems and equipment for inertial navigation and other defense applications to be used on military transport and combat aircraft, helicopters, warships, armored vehicles and artillery systems. It operates through ISEI, Aerospace Power Distribution Management Solutions and the Integrated Cockpit Solutions business of Eaton Corporation. “

SAFRY has been the topic of several other research reports. ValuEngine downgraded shares of SAFRAN/ADR from a hold rating to a sell rating in a report on Wednesday, October 2nd. Goldman Sachs Group downgraded shares of SAFRAN/ADR from a buy rating to a neutral rating in a report on Friday, July 5th. Finally, JPMorgan Chase & Co. raised shares of SAFRAN/ADR from a neutral rating to an overweight rating in a report on Thursday, September 5th.

Shares of OTCMKTS:SAFRY opened at $39.28 on Thursday. SAFRAN/ADR has a 1-year low of $28.47 and a 1-year high of $39.84. The company has a market capitalization of $67.98 billion, a P/E ratio of 29.31 and a beta of 0.87. The firm’s 50 day simple moving average is $38.55 and its two-hundred day simple moving average is $36.15.

About SAFRAN/ADR

Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses worldwide. The company operates through three segments: Aerospace Propulsion, Aircraft Equipment, and Defense. The Aerospace Propulsion segment designs, develops, produces, and markets propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters, and tactical missiles and drones.

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