ValuEngine Lowers Esterline Technologies Corporation (ESL) to Hold

ValuEngine cut shares of Esterline Technologies Corporation (NYSE:ESL) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities research analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) downgraded Esterline Technologies Corporation from a neutral rating to a sell rating and reduced their target price for the company from $86.00 to $75.00 in a report on Thursday, August 10th. Jefferies Group LLC reissued a hold rating and issued a $90.00 target price (down previously from $92.00) on shares of Esterline Technologies Corporation in a report on Wednesday, August 9th. Seaport Global Securities began coverage on Esterline Technologies Corporation in a report on Tuesday, September 12th. They issued a neutral rating and a $93.00 target price for the company. Canaccord Genuity raised their target price on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a hold rating in a report on Friday, August 4th. Finally, Credit Suisse Group downgraded Esterline Technologies Corporation from an outperform rating to a neutral rating and reduced their target price for the company from $106.00 to $100.00 in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $92.33.

Esterline Technologies Corporation (NYSE:ESL) traded down $18.79 during trading on Thursday, reaching $70.60. The company’s stock had a trading volume of 1,042,400 shares, compared to its average volume of 183,968. Esterline Technologies Corporation has a 12 month low of $69.35 and a 12 month high of $102.70. The company has a current ratio of 3.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2,116.23, a P/E ratio of 16.16, a P/E/G ratio of 1.26 and a beta of 1.54.

Esterline Technologies Corporation (NYSE:ESL) last released its earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.26). Esterline Technologies Corporation had a net margin of 5.86% and a return on equity of 7.90%. The business had revenue of $531.50 million during the quarter, compared to analyst estimates of $540.55 million. During the same period last year, the business posted $1.96 EPS. Esterline Technologies Corporation’s revenue was down 2.3% compared to the same quarter last year. equities analysts anticipate that Esterline Technologies Corporation will post 4.96 EPS for the current fiscal year.

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In other news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total value of $693,815.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder J Richard Atwood sold 173,979 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $95.24, for a total value of $16,569,759.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,911 shares of company stock valued at $25,692,702. Company insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Esterline Technologies Corporation by 0.9% in the second quarter. Vanguard Group Inc. now owns 2,454,359 shares of the aerospace company’s stock valued at $232,673,000 after buying an additional 22,930 shares in the last quarter. State Street Corp increased its position in Esterline Technologies Corporation by 1.9% during the 2nd quarter. State Street Corp now owns 1,082,486 shares of the aerospace company’s stock worth $102,617,000 after purchasing an additional 20,181 shares in the last quarter. Fiduciary Management Inc. WI increased its position in Esterline Technologies Corporation by 14.5% during the 2nd quarter. Fiduciary Management Inc. WI now owns 972,956 shares of the aerospace company’s stock worth $92,236,000 after purchasing an additional 123,467 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Esterline Technologies Corporation by 12.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock worth $88,653,000 after purchasing an additional 100,543 shares in the last quarter. Finally, Northern Trust Corp increased its position in Esterline Technologies Corporation by 3.2% during the 2nd quarter. Northern Trust Corp now owns 827,955 shares of the aerospace company’s stock worth $78,490,000 after purchasing an additional 25,723 shares in the last quarter. Institutional investors and hedge funds own 91.95% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Esterline Technologies Corporation (NYSE:ESL)

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