Zacks Investment Research Downgrades CIRCOR International (CIR) to Hold
CIRCOR International (NYSE:CIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “
A number of other brokerages also recently weighed in on CIR. Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of CIRCOR International in a research report on Tuesday, October 17th. KeyCorp reissued a “hold” rating on shares of CIRCOR International in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $60.00.
CIRCOR International (NYSE:CIR) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $159.70 million for the quarter, compared to the consensus estimate of $154.65 million. CIRCOR International had a return on equity of 6.30% and a net margin of 2.50%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. equities analysts forecast that CIRCOR International will post 1.62 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CIR. SG Americas Securities LLC acquired a new position in CIRCOR International during the third quarter worth approximately $121,000. Quantbot Technologies LP boosted its holdings in shares of CIRCOR International by 454.0% during the second quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 2,470 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of CIRCOR International during the second quarter worth approximately $212,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of CIRCOR International by 59.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,190 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 2,320 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of CIRCOR International by 2.3% during the second quarter. California Public Employees Retirement System now owns 13,600 shares of the industrial products company’s stock worth $808,000 after acquiring an additional 300 shares during the period.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2018/01/14/zacks-investment-research-downgrades-circor-international-cir-to-hold.html.
About CIRCOR International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CIRCOR International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIRCOR International and related companies with MarketBeat.com's FREE daily email newsletter.