Esterline Technologies Corporation (ESL) Downgraded by Drexel Hamilton to “Hold”
Esterline Technologies Corporation (NYSE:ESL) was downgraded by Drexel Hamilton from a “buy” rating to a “hold” rating in a report released on Friday.
Several other analysts have also issued reports on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Esterline Technologies Corporation in a research note on Thursday, October 12th. Credit Suisse Group lowered Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $106.00 to $100.00 in a research note on Friday, August 4th. Zacks Investment Research lowered Esterline Technologies Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 19th. BidaskClub raised Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Seaport Global Securities initiated coverage on Esterline Technologies Corporation in a research note on Tuesday, September 12th. They set a “neutral” rating and a $93.00 price objective for the company. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Esterline Technologies Corporation presently has a consensus rating of “Hold” and an average price target of $92.67.
Shares of Esterline Technologies Corporation (NYSE:ESL) opened at $89.39 on Friday. The stock has a market capitalization of $2,792.16, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.22 and a quick ratio of 1.92. Esterline Technologies Corporation has a 52 week low of $76.00 and a 52 week high of $102.70.
Esterline Technologies Corporation (NYSE:ESL) last issued its earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.31). The firm had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $540.55 million. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 EPS. equities analysts expect that Esterline Technologies Corporation will post 4.63 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This piece was posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.dailypolitical.com/2017/11/10/esterline-technologies-corporation-esl-downgraded-by-drexel-hamilton-to-hold.html.
In other Esterline Technologies Corporation news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total value of $693,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder First Pacific Advisors, Llc sold 8,931 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $95.21, for a total value of $850,320.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,911 shares of company stock valued at $25,692,702. 1.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Esterline Technologies Corporation by 0.9% in the second quarter. Vanguard Group Inc. now owns 2,454,359 shares of the aerospace company’s stock worth $232,673,000 after purchasing an additional 22,930 shares in the last quarter. State Street Corp raised its holdings in Esterline Technologies Corporation by 1.9% in the second quarter. State Street Corp now owns 1,082,486 shares of the aerospace company’s stock worth $102,617,000 after purchasing an additional 20,181 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in Esterline Technologies Corporation by 14.5% in the second quarter. Fiduciary Management Inc. WI now owns 972,956 shares of the aerospace company’s stock worth $92,236,000 after purchasing an additional 123,467 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Esterline Technologies Corporation by 12.0% in the second quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock worth $88,653,000 after purchasing an additional 100,543 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Esterline Technologies Corporation by 3.2% in the second quarter. Northern Trust Corp now owns 827,955 shares of the aerospace company’s stock worth $78,490,000 after purchasing an additional 25,723 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.
About Esterline Technologies Corporation
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.