Curtiss-Wright (CW) Lifted to Buy at Zacks Investment Research

Curtiss-Wright (NYSE:CW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $152.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.37% from the company’s previous close.

According to Zacks, “Curtiss-Wright's rising trade activities along with increasing need for replacing aging fleet with new airplanes has been fueling 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. As a result of such develoments and projections, the company's shares outperformed its industry in a year’s time. China’s initiatives to expand its nuclear power capabilities bodes well for Curtiss-Wright’s overseas expansion for its nuclear reactor portfolio. 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 weighed in on the company. UBS Group assumed coverage on Curtiss-Wright in a research note on Wednesday, August 15th. They set a “neutral” rating and a $140.00 price target on the stock. William Blair upgraded Curtiss-Wright from a “market perform” rating to an “outperform” rating and dropped 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, ValuEngine lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $136.50.

Shares of CW stock traded up $0.57 during trading hours on Tuesday, reaching $136.48. 791 shares of the company’s stock were exchanged, compared to its average volume of 184,280. Curtiss-Wright has a 1 year low of $102.81 and a 1 year high of $143.38. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.76 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.42 and a current ratio of 2.16.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.52. Curtiss-Wright had a return on equity of 17.26% and a net margin of 10.65%. The business had revenue of $620.00 million for the quarter, compared to analyst estimates of $616.29 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. equities analysts forecast that Curtiss-Wright will post 6.15 earnings per share for the current year.

In other Curtiss-Wright news, Director S Marce Fuller sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $133.07, for a total value of $166,337.50. Following the completion of the transaction, the director now directly owns 11,734 shares of the company’s stock, valued at $1,561,443.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Curtiss-Wright by 1.8% in the first quarter. BlackRock Inc. now owns 6,128,594 shares of the aerospace company’s stock valued at $827,788,000 after acquiring an additional 108,618 shares during the period. Boston Partners raised its stake in shares of Curtiss-Wright by 25.3% during the 2nd quarter. Boston Partners now owns 1,552,436 shares of the aerospace company’s stock worth $184,771,000 after buying an additional 313,643 shares during the period. Wells Fargo & Company MN raised its stake in shares of Curtiss-Wright by 12.0% during the 2nd quarter. Wells Fargo & Company MN now owns 853,231 shares of the aerospace company’s stock worth $101,551,000 after buying an additional 91,724 shares during the period. Millennium Management LLC raised its stake in shares of Curtiss-Wright by 235.6% during the 2nd quarter. Millennium Management LLC now owns 516,426 shares of the aerospace company’s stock worth $61,465,000 after buying an additional 362,551 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Curtiss-Wright by 7.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 341,976 shares of the aerospace company’s stock worth $40,702,000 after buying an additional 23,218 shares during the period. 75.25% of the stock is owned by institutional investors.

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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