ESCO Technologies Inc. (ESE) Cut to Hold at Zacks Investment Research

ESCO Technologies Inc. (NYSE:ESE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “

A number of other analysts also recently weighed in on ESE. Wunderlich started coverage on shares of ESCO Technologies in a research report on Tuesday, June 13th. They issued a “buy” rating and a $71.00 price target on the stock. FBR & Co reiterated an “outperform” rating on shares of ESCO Technologies in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of ESCO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $67.00.

ESCO Technologies (NYSE ESE) traded up 0.17% on Tuesday, hitting $60.60. 59,794 shares of the stock traded hands. The stock has a market capitalization of $1.57 billion, a P/E ratio of 30.61 and a beta of 1.03. ESCO Technologies has a 12-month low of $42.95 and a 12-month high of $63.80. The company’s 50 day moving average price is $56.81 and its 200-day moving average price is $58.13.

ESCO Technologies (NYSE:ESE) last announced its quarterly earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $172.00 million for the quarter, compared to the consensus estimate of $172.00 million. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. ESCO Technologies’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Analysts predict that ESCO Technologies will post $2.08 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in ESCO Technologies during the 2nd quarter worth approximately $234,000. Piedmont Investment Advisors LLC bought a new stake in ESCO Technologies during the 2nd quarter worth approximately $333,000. State Street Corp increased its stake in ESCO Technologies by 5.4% during the 2nd quarter. State Street Corp now owns 662,183 shares of the scientific and technical instruments company’s stock worth $39,505,000 after purchasing an additional 33,945 shares in the last quarter. Janus Henderson Group PLC bought a new stake in ESCO Technologies during the 2nd quarter worth approximately $44,484,000. Finally, Macquarie Group Ltd. increased its stake in ESCO Technologies by 14.5% during the 2nd quarter. Macquarie Group Ltd. now owns 761,656 shares of the scientific and technical instruments company’s stock worth $45,433,000 after purchasing an additional 96,182 shares in the last quarter. 94.10% of the stock is owned by institutional investors and hedge funds.

About ESCO Technologies

ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.

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