Circor International Inc. (CIR) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “CIRCOR International, Inc. designs, manufactures and distributes valves and related products and services for use in a wide range of applications to optimize the efficiency or ensure the safety of fluid-control systems. The valves and related fluid-control products we manufacture are used in processing industries; oil and gas production, pipeline construction and maintenance; aerospace, military and commercial aircraft; pharmaceutical, medical and analytical equipment; and maritime manufacturing and maintenance. “
A number of other brokerages have also issued reports on CIR. KeyCorp started coverage on shares of Circor International in a research note on Tuesday, September 20th. They set a sector weight rating for the company. Stifel Nicolaus lowered their target price on shares of Circor International from $68.00 to $61.00 and set a buy rating for the company in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $49.50.
Circor International (NYSE:CIR) traded up 3.24% during mid-day trading on Friday, reaching $49.70. 41,877 shares of the company’s stock were exchanged. The firm has a market capitalization of $816.22 million, a P/E ratio of 122.72 and a beta of 1.39. Circor International has a one year low of $32.79 and a one year high of $62.87. The company’s 50-day moving average is $58.07 and its 200 day moving average is $55.70.
Circor International (NYSE:CIR) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The business had revenue of $146.40 million for the quarter, compared to analysts’ expectations of $144.01 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue was down 12.3% compared to the same quarter last year. Equities analysts predict that Circor International will post $2.19 earnings per share for the current fiscal year.
In related news, Director Douglas M. Hayes sold 3,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $61.17, for a total value of $183,510.00. Following the completion of the sale, the director now directly owns 14,556 shares of the company’s stock, valued at $890,390.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its stake in Circor International by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 1,556,241 shares of the company’s stock worth $88,690,000 after buying an additional 10,700 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Circor International by 1.0% in the second quarter. Silvercrest Asset Management Group LLC now owns 598,573 shares of the company’s stock worth $34,112,000 after buying an additional 6,105 shares during the period. Bank of New York Mellon Corp raised its stake in Circor International by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 367,614 shares of the company’s stock worth $20,953,000 after buying an additional 60,403 shares during the period. Macquarie Group Ltd. raised its stake in Circor International by 3.1% in the second quarter. Macquarie Group Ltd. now owns 335,997 shares of the company’s stock worth $19,148,000 after buying an additional 10,246 shares during the period. Finally, Netols Asset Management Inc. raised its stake in Circor International by 59.1% in the second quarter. Netols Asset Management Inc. now owns 115,032 shares of the company’s stock worth $6,556,000 after buying an additional 42,709 shares during the period.
About Circor International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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