Curtiss-Wright (CW) Stock Rating Lowered by Zacks Investment Research
Curtiss-Wright (NYSE:CW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Rising trade activities along with increasing need for replacing aging fleet with new airplanes has been fueling the Curtiss-Wright’s commercial aerospace business. As of Dec 2017, there are approximately 57 new reactors under construction across 15 countries, with approximately 158 planned and 351 proposed over the next several decades. This should provide ample growth opportunities for Curtiss-Wright in the commercial nuclear market. It also expects to supply a variety of ancillary plant products and services to this plant, thereby reflecting solid demand for its power segment’s products. However, cheap gas price has forced a number of nuclear plants to shut down in the United States. Curtiss-Wright is also subject to interest rate risk related to the issuance of debt. The company also underperformed its industry in the last one year.”
Several other brokerages have also commented on CW. Seaport Global Securities reissued a “buy” rating on shares of Curtiss-Wright in a research report on Tuesday, October 30th. SunTrust Banks lowered their price target on Curtiss-Wright to $148.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. ValuEngine raised Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Bank of America lowered their price target on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Finally, UBS Group initiated coverage on Curtiss-Wright in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $140.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $134.78.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Tuesday, October 30th. The aerospace company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.58 by $0.12. The business had revenue of $595.40 million during the quarter, compared to analyst estimates of $628.27 million. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. Analysts predict that Curtiss-Wright will post 6.23 earnings per share for the current year.
In other Curtiss-Wright news, Director Bruce D. Hoechner acquired 470 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, November 15th. The stock was bought at an average cost of $107.16 per share, for a total transaction of $50,365.20. Following the acquisition, the director now owns 887 shares of the company’s stock, valued at $95,050.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CW. TIAA CREF Investment Management LLC grew its stake in shares of Curtiss-Wright by 54.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 189,355 shares of the aerospace company’s stock valued at $26,021,000 after purchasing an additional 66,627 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Curtiss-Wright by 53.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,947 shares of the aerospace company’s stock valued at $817,000 after purchasing an additional 2,083 shares during the period. AQR Capital Management LLC grew its stake in shares of Curtiss-Wright by 47.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,506,235 shares of the aerospace company’s stock valued at $206,987,000 after purchasing an additional 485,253 shares during the period. Macquarie Group Ltd. grew its stake in shares of Curtiss-Wright by 28.2% during the 3rd quarter. Macquarie Group Ltd. now owns 19,915 shares of the aerospace company’s stock valued at $2,737,000 after purchasing an additional 4,375 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Curtiss-Wright by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 127,695 shares of the aerospace company’s stock valued at $17,547,000 after purchasing an additional 5,092 shares during the period. Institutional investors own 76.71% of the company’s stock.
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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