Esterline Technologies Corporation (ESL) Trading Down 1.8% After Analyst Downgrade

Esterline Technologies Corporation (NYSE:ESL)’s share price traded down 1.8% during mid-day trading on Monday after Canaccord Genuity lowered their price target on the stock from $92.00 to $90.00. Canaccord Genuity currently has a hold rating on the stock. Esterline Technologies Corporation traded as low as $69.35 and last traded at $69.30. 390,857 shares were traded during mid-day trading, an increase of 153% from the average session volume of 154,247 shares. The stock had previously closed at $70.60.

Several other equities analysts have also recently issued reports on the stock. Drexel Hamilton cut shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Friday. SunTrust Banks, Inc. cut shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating and set a $106.00 price objective on the stock. in a research note on Friday. ValuEngine cut shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Esterline Technologies Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 19th. Finally, Seaport Global Securities assumed coverage on shares of Esterline Technologies Corporation in a research note on Tuesday, September 12th. They set a “neutral” rating and a $93.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Esterline Technologies Corporation presently has a consensus rating of “Hold” and a consensus target price of $92.33.

In other Esterline Technologies Corporation news, major shareholder J Richard Atwood sold 31,155 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.04, for a total value of $2,992,126.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder First Pacific Advisors, Llc sold 8,931 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $95.21, for a total transaction of $850,320.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,911 shares of company stock worth $25,692,702. 1.40% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in ESL. Lord Abbett & CO. LLC purchased a new position in shares of Esterline Technologies Corporation during the 2nd quarter worth about $26,478,000. Principal Financial Group Inc. increased its position in Esterline Technologies Corporation by 212.3% during the 2nd quarter. Principal Financial Group Inc. now owns 378,783 shares of the aerospace company’s stock worth $35,908,000 after purchasing an additional 257,500 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Esterline Technologies Corporation during the 3rd quarter worth approximately $18,677,000. State of New Jersey Common Pension Fund D acquired a new stake in Esterline Technologies Corporation during the 3rd quarter worth approximately $18,030,000. Finally, Walthausen & Co. LLC acquired a new stake in Esterline Technologies Corporation during the 2nd quarter worth approximately $12,599,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

The company has a market capitalization of $2,116.23, a PE ratio of 16.16, a PEG ratio of 1.28 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03.

Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.26). Esterline Technologies Corporation had a net margin of 5.86% and a return on equity of 7.68%. The firm 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 earned $1.96 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. research analysts anticipate that Esterline Technologies Corporation will post 4.96 EPS for the current year.

WARNING: This article was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.themarketsdaily.com/2017/11/14/esterline-technologies-corporation-esl-trading-down-1-8-after-analyst-downgrade.html.

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.

Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply