Curtiss-Wright (NYSE:CW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm currently has a $136.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.34% from the company’s current price.

According to Zacks, “Rising trade activity along with increasing need for replacing aging fleet with new airplanes has been fueling Curtiss-Wright’s commercial aerospace business. Expanded production plans by the company’s primary customers, aerospace behemoths – Boeing and Airbus, further gives a boost to its growth prospects. This may have also helped the company to outperform its industry in a year’s time. China’s initiatives to expand its nuclear power capabilities too bodes well for Curtiss-Wright’s overseas expansion for its nuclear reactor portfolio. Curtiss-Wright, being a leading supplier of COTS and COTS+ solutions, also enjoys a buoyant position in the aerospace defense market. However, cheap gas price has forced a number of nuclear plants to shut down in the United States, resulting in bleak prospects of the company’s nationwide power segment’s expansion.”

A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. William Blair raised shares of Curtiss-Wright from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $145.00 to $129.00 in a research report on Monday, July 2nd. They noted that the move was a valuation call. Finally, Stifel Nicolaus decreased their target price on shares of Curtiss-Wright from $141.00 to $136.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $134.33.

Shares of NYSE CW traded up $1.43 during midday trading on Friday, reaching $123.25. 290,358 shares of the company’s stock traded hands, compared to its average volume of 532,166. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.78 and a current ratio of 2.50. Curtiss-Wright has a one year low of $92.41 and a one year high of $143.38. The company has a market cap of $5.26 billion, a PE ratio of 24.50, a P/E/G ratio of 1.60 and a beta of 1.20.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, May 2nd. The aerospace company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.10. Curtiss-Wright had a net margin of 9.85% and a return on equity of 15.81%. The firm had revenue of $547.52 million for the quarter, compared to the consensus estimate of $550.22 million. During the same period last year, the firm earned $0.73 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. analysts forecast that Curtiss-Wright will post 5.61 earnings per share for the current fiscal year.

Curtiss-Wright declared that its board has initiated a share buyback program on Monday, May 21st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the aerospace company to buy up to 0.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Curtiss-Wright news, Director S Marce Fuller sold 1,250 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $132.74, for a total value of $165,925.00. Following the completion of the transaction, the director now owns 12,984 shares of the company’s stock, valued at $1,723,496.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in shares of Curtiss-Wright by 67.2% in the fourth quarter. First Trust Advisors LP now owns 11,241 shares of the aerospace company’s stock worth $1,370,000 after acquiring an additional 4,516 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Curtiss-Wright in the fourth quarter worth $298,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Curtiss-Wright in the fourth quarter worth $1,318,000. Jefferies Group LLC acquired a new stake in shares of Curtiss-Wright in the fourth quarter worth $369,000. Finally, Deutsche Bank AG increased its stake in shares of Curtiss-Wright by 62.9% in the fourth quarter. Deutsche Bank AG now owns 161,491 shares of the aerospace company’s stock worth $19,675,000 after acquiring an additional 62,327 shares during the period. 76.87% of the stock is owned by institutional investors and hedge funds.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.

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