B/E Aerospace Inc. (BEAV) Rating Lowered to Neutral at Goldman Sachs Group Inc.
B/E Aerospace Inc. (NASDAQ:BEAV) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday. They presently have a $52.00 price target on the stock, down from their previous price target of $56.00. Goldman Sachs Group Inc.’s price target suggests a potential upside of 2.75% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Citigroup Inc. lifted their price objective on shares of B/E Aerospace from $60.00 to $62.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird began coverage on shares of B/E Aerospace in a report on Wednesday, October 5th. They set an “outperform” rating and a $61.00 price objective on the stock. Deutsche Bank AG lifted their price objective on shares of B/E Aerospace from $55.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 5th. KeyCorp reissued a “buy” rating and set a $56.00 price objective on shares of B/E Aerospace in a report on Wednesday, September 28th. Finally, Jefferies Group reissued a “hold” rating on shares of B/E Aerospace in a report on Monday, August 1st. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. B/E Aerospace presently has an average rating of “Buy” and a consensus price target of $55.00.
B/E Aerospace (NASDAQ:BEAV) opened at 50.61 on Wednesday. The stock’s 50 day moving average price is $50.66 and its 200 day moving average price is $48.26. The company has a market capitalization of $5.14 billion, a PE ratio of 17.49 and a beta of 1.03. B/E Aerospace has a 12-month low of $36.38 and a 12-month high of $53.25.
B/E Aerospace (NASDAQ:BEAV) last issued its earnings results on Tuesday, July 26th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The business had revenue of $753 million for the quarter, compared to analyst estimates of $714.04 million. B/E Aerospace had a net margin of 10.56% and a return on equity of 367.98%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, equities analysts anticipate that B/E Aerospace will post $3.26 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC increased its position in B/E Aerospace by 177.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,217 shares of the company’s stock valued at $102,000 after buying an additional 1,417 shares during the period. Advisor Group Inc. acquired a new position in B/E Aerospace during the second quarter valued at $106,000. FineMark National Bank & Trust increased its position in B/E Aerospace by 10.4% in the second quarter. FineMark National Bank & Trust now owns 2,839 shares of the company’s stock valued at $131,000 after buying an additional 268 shares during the period. Bessemer Group Inc. acquired a new position in B/E Aerospace during the first quarter valued at $171,000. Finally, CIBC Asset Management Inc increased its position in B/E Aerospace by 1.0% in the second quarter. CIBC Asset Management Inc now owns 5,299 shares of the company’s stock valued at $245,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 96.25% of the company’s stock.
B/E Aerospace Company Profile
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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