Zacks Investment Research downgraded shares of Curtiss-Wright Corporation (NYSE:CW) from a buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Several other analysts also recently weighed in on CW. SunTrust Banks, Inc. raised shares of Curtiss-Wright Corporation from a hold rating to a buy rating and lifted their target price for the company from $103.00 to $112.00 in a report on Monday, June 5th. BidaskClub raised shares of Curtiss-Wright Corporation from a sell rating to a hold rating in a report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Curtiss-Wright Corporation has an average rating of Hold and an average price target of $107.25.
Curtiss-Wright Corporation (NYSE CW) opened at 98.30 on Tuesday. Curtiss-Wright Corporation has a 12 month low of $82.77 and a 12 month high of $107.61. The firm has a market cap of $4.34 billion, a P/E ratio of 22.30 and a beta of 1.26. The firm has a 50 day moving average of $96.24 and a 200-day moving average of $92.90.
Curtiss-Wright Corporation (NYSE:CW) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million for the quarter, compared to the consensus estimate of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. Curtiss-Wright Corporation’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts forecast that Curtiss-Wright Corporation will post $4.55 earnings per share for the current year.
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In related news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now owns 14,960 shares in the company, valued at $1,438,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC lifted its stake in shares of Curtiss-Wright Corporation by 7.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,408 shares of the aerospace company’s stock valued at $129,000 after purchasing an additional 96 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Curtiss-Wright Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 143 shares during the period. Neuburgh Advisers LLC lifted its stake in shares of Curtiss-Wright Corporation by 7.3% in the first quarter. Neuburgh Advisers LLC now owns 1,936 shares of the aerospace company’s stock valued at $177,000 after purchasing an additional 132 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Curtiss-Wright Corporation by 93.2% in the second quarter. Harbour Capital Advisors LLC now owns 16,520 shares of the aerospace company’s stock valued at $180,000 after purchasing an additional 7,970 shares during the period. Finally, Burney Co. acquired a new stake in shares of Curtiss-Wright Corporation in the second quarter valued at about $203,000. Hedge funds and other institutional investors own 76.62% of the company’s stock.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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