Esco Technologies Inc. (ESE) Reaches New 52-Week High at $44.16
Shares of Esco Technologies Inc. (NYSE:ESE) hit a new 52-week high during trading on Thursday . The company traded as high as $44.16 and last traded at $44.10, with a volume of 49,279 shares trading hands. The stock had previously closed at $43.42.
A number of analysts have recently commented on the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 price target on shares of Esco Technologies in a research note on Thursday, August 4th. Zacks Investment Research cut Esco Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 4th. Finally, BB&T Corp. increased their target price on Esco Technologies from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.67.
The stock has a 50 day moving average price of $41.71 and a 200-day moving average price of $38.76. The firm has a market capitalization of $1.14 billion and a price-to-earnings ratio of 27.14.
Esco Technologies (NYSE:ESE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The firm had revenue of $140.20 million for the quarter, compared to analyst estimates of $145.57 million. Esco Technologies’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Esco Technologies Inc. will post $2.00 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, September 29th.
In other news, Director Larry W. Solley sold 4,500 shares of Esco Technologies stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $43.40, for a total transaction of $195,300.00. Following the sale, the director now directly owns 25,150 shares of the company’s stock, valued at $1,091,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds have recently made changes to their positions in the stock. Russell Frank Co raised its stake in shares of Esco Technologies by 40.1% in the fourth quarter. Russell Frank Co now owns 85,712 shares of the company’s stock worth $3,162,000 after buying an additional 24,546 shares during the last quarter. Nationwide Fund Advisors raised its position in Esco Technologies by 0.8% in the fourth quarter. Nationwide Fund Advisors now owns 31,047 shares of the company’s stock worth $1,122,000 after buying an additional 236 shares in the last quarter. California State Teachers Retirement System raised its position in Esco Technologies by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 48,321 shares of the company’s stock worth $1,746,000 after buying an additional 771 shares in the last quarter. Rhumbline Advisers raised its position in Esco Technologies by 2.8% in the fourth quarter. Rhumbline Advisers now owns 44,724 shares of the company’s stock worth $1,616,000 after buying an additional 1,220 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Esco Technologies by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 573,867 shares of the company’s stock worth $20,739,000 after buying an additional 106,544 shares in the last quarter.
ESCO Technologies Inc is engaged in the production of engineered products and systems. The Company’s products are sold around the world for utility, industrial, aerospace and commercial applications. It conducts its business in three segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test) and Utility Solutions Group (USG).
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