Esterline Technologies Corporation (ESL) Rating Reiterated by Canaccord Genuity

Esterline Technologies Corporation (NYSE:ESL)‘s stock had its “hold” rating restated by investment analysts at Canaccord Genuity in a report released on Monday, May 15th, StockTargetPrices.com reports. They currently have a $90.00 target price on the aerospace company’s stock. Canaccord Genuity’s price target would indicate a potential downside of 8.26% from the company’s current price.

ESL has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Esterline Technologies Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Monday, May 8th. SunTrust Banks, Inc. assumed coverage on shares of Esterline Technologies Corporation in a research note on Thursday, January 19th. They issued a “buy” rating and a $106.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and issued a $92.00 target price on shares of Esterline Technologies Corporation in a research note on Tuesday, April 18th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $106.00 target price (up previously from $96.00) on shares of Esterline Technologies Corporation in a research note on Friday, May 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $95.33.

Analyst Recommendations for Esterline Technologies Corporation (NYSE:ESL)

Shares of Esterline Technologies Corporation (ESL) traded down 0.15% during trading on Monday, hitting $98.10. The company’s stock had a trading volume of 218,619 shares. The company has a market cap of $2.92 billion, a PE ratio of 21.95 and a beta of 1.37. The firm’s 50 day moving average price is $94.97 and its 200-day moving average price is $89.96. Esterline Technologies Corporation has a 52 week low of $56.72 and a 52 week high of $102.70.

Esterline Technologies Corporation (NYSE:ESL) last issued its earnings results on Thursday, May 4th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29. The business had revenue of $509.20 million for the quarter, compared to analyst estimates of $491.74 million. Esterline Technologies Corporation had a net margin of 6.56% and a return on equity of 9.94%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. On average, analysts predict that Esterline Technologies Corporation will post $4.95 earnings per share for the current year.

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In related news, major shareholder Hawkeye Fund Fpa sold 2,240 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $85.29, for a total value of $191,049.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert David George sold 26,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $93.46, for a total transaction of $2,495,382.00. Following the completion of the sale, the chief financial officer now owns 29,960 shares of the company’s stock, valued at approximately $2,800,061.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,640 shares of company stock valued at $3,306,919. 1.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Esterline Technologies Corporation by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,379 shares of the aerospace company’s stock valued at $391,000 after buying an additional 31 shares during the period. Prudential PLC increased its stake in shares of Esterline Technologies Corporation by 8.8% in the fourth quarter. Prudential PLC now owns 301,500 shares of the aerospace company’s stock valued at $26,894,000 after buying an additional 24,500 shares during the period. State Street Corp increased its stake in shares of Esterline Technologies Corporation by 9.3% in the fourth quarter. State Street Corp now owns 1,051,862 shares of the aerospace company’s stock valued at $93,831,000 after buying an additional 89,466 shares during the period. Comerica Bank increased its stake in shares of Esterline Technologies Corporation by 16.4% in the fourth quarter. Comerica Bank now owns 73,476 shares of the aerospace company’s stock valued at $6,455,000 after buying an additional 10,346 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Esterline Technologies Corporation during the fourth quarter valued at approximately $761,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Esterline Technologies Corporation Company Profile

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.

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