Zacks Investment Research upgraded shares of Carlisle Companies (NYSE:CSL) from a sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses with highly engineered and high margin products. Carlisle is committed to generating superior shareholder returns by combining a unique management style of decentralization, entrepreneurial spirit, active M&A, and a balanced approach to capital deployment, all with a culture of continuous improvement as embodied in the Carlisle Operating System. Carlisle’s markets include: commercial roofing, agriculture, mining, construction, aerospace, defense, foodservice, healthcare, sanitary maintenance, transportation, industrial, protective coating and auto refinishing. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, Carlisle Brake & Friction, and Carlisle FoodService Products. Carlisle remains committed to the core philosophies of Decentralization, Diversification, Continuous Improvement and an Entrepreneurial Culture. “
A number of other brokerages have also recently issued reports on CSL. Robert W. Baird increased their target price on shares of Carlisle Companies from $110.00 to $118.00 and gave the stock an outperform rating in a research report on Wednesday, October 25th. FBR & Co set a $125.00 target price on shares of Carlisle Companies and gave the stock a buy rating in a research report on Wednesday, October 25th. SunTrust Banks restated a buy rating and issued a $130.00 price objective on shares of Carlisle Companies in a research report on Friday, February 9th. B. Riley set a $125.00 price objective on shares of Carlisle Companies and gave the company a buy rating in a research report on Friday, February 9th. Finally, Oppenheimer restated a hold rating on shares of Carlisle Companies in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Carlisle Companies has an average rating of Buy and an average price target of $124.63.
Carlisle Companies (NYSE:CSL) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.20. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. Carlisle Companies had a net margin of 8.94% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. analysts expect that Carlisle Companies will post 6.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, February 16th. Carlisle Companies’s payout ratio is presently 25.92%.
Carlisle Companies announced that its board has authorized a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of CSL. Fuller & Thaler Asset Management Inc. acquired a new stake in Carlisle Companies in the 3rd quarter valued at about $100,000. Toronto Dominion Bank acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $126,000. Cerebellum GP LLC acquired a new stake in shares of Carlisle Companies during the 4th quarter worth approximately $128,000. Marble Harbor Investment Counsel LLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $201,000. Finally, Advisory Services Network LLC grew its position in shares of Carlisle Companies by 4,659.0% during the 4th quarter. Advisory Services Network LLC now owns 1,856 shares of the conglomerate’s stock worth $211,000 after buying an additional 1,817 shares during the period. Hedge funds and other institutional investors own 88.35% of the company’s stock.
About Carlisle Companies
Carlisle Companies Incorporated is a manufacturing company. The Company designs, manufactures and markets a range of products that serve a range of markets, including commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, transportation, general industrial, protective coatings, wood, auto refinishing, foodservice, and healthcare and sanitary maintenance.
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