CIRCOR International (NYSE:CIR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $53.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.36% from the company’s previous close.
According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “
A number of other analysts also recently weighed in on CIR. ValuEngine raised shares of CIRCOR International from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Sidoti cut shares of CIRCOR International from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 21st. Finally, TheStreet upgraded shares of CIRCOR International from a “d+” rating to a “c-” rating in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. CIRCOR International has an average rating of “Buy” and an average price target of $42.25.
CIRCOR International (NYSE:CIR) last posted its earnings results on Thursday, April 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. CIRCOR International had a negative net margin of 2.59% and a positive return on equity of 7.62%. The firm had revenue of $270.40 million during the quarter, compared to the consensus estimate of $257.09 million. During the same quarter in the prior year, the company earned $0.40 EPS. The company’s revenue was down 1.9% on a year-over-year basis. On average, analysts expect that CIRCOR International will post 2.2 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teton Advisors Inc. lifted its holdings in CIRCOR International by 7.4% during the 1st quarter. Teton Advisors Inc. now owns 266,986 shares of the industrial products company’s stock worth $8,704,000 after purchasing an additional 18,346 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of CIRCOR International by 3.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,893,852 shares of the industrial products company’s stock worth $61,740,000 after acquiring an additional 71,240 shares in the last quarter. Comerica Bank lifted its position in shares of CIRCOR International by 2.7% during the first quarter. Comerica Bank now owns 19,522 shares of the industrial products company’s stock worth $697,000 after acquiring an additional 517 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of CIRCOR International during the first quarter worth $242,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of CIRCOR International by 248.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,848 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 2,744 shares in the last quarter.
About CIRCOR International
CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Aerospace and Defense, and Industrial. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices and fluid catalytic converter and isolation valves.
Further Reading: Oversold
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CIRCOR International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIRCOR International and related companies with MarketBeat.com's FREE daily email newsletter.