CIRCOR International (CIR) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of CIRCOR International (NYSE:CIR) from a buy rating to a hold rating in a research 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. “
Other equities research analysts have also recently issued research reports about the company. SunTrust Banks reissued a buy rating and issued a $56.00 price target on shares of CIRCOR International in a research note on Friday. Stifel Nicolaus reissued a buy rating and issued a $54.00 price target (down previously from $61.00) on shares of CIRCOR International in a research note on Thursday. KeyCorp raised CIRCOR International from a sector weight rating to an overweight rating and set a $53.00 price target for the company in a research note on Monday, November 6th. Finally, ValuEngine cut CIRCOR International from a hold rating to a sell rating in a research note on Saturday, February 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $59.50.
CIRCOR International (NYSE:CIR) last announced its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $205.58 million during the quarter, compared to analysts’ expectations of $170.60 million. CIRCOR International had a return on equity of 6.06% and a net margin of 1.78%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. research analysts expect that CIRCOR International will post 2.14 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in CIR. California Public Employees Retirement System boosted its position in 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 purchasing an additional 300 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in 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 purchasing an additional 2,320 shares during the period. SG Americas Securities LLC bought a new stake in CIRCOR International during the third quarter worth approximately $121,000. Gabelli Funds LLC boosted its position in CIRCOR International by 1.5% during the fourth quarter. Gabelli Funds LLC now owns 964,730 shares of the industrial products company’s stock worth $46,963,000 after purchasing an additional 14,230 shares during the period. Finally, Teton Advisors Inc. boosted its position in CIRCOR International by 1.1% during the fourth quarter. Teton Advisors Inc. now owns 183,600 shares of the industrial products company’s stock worth $8,938,000 after purchasing an additional 2,000 shares during the period.
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)).
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