Elbit Systems (NASDAQ:ESLT) Upgraded to “Buy” at Zacks Investment Research

Elbit Systems (NASDAQ:ESLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm presently has a $171.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.66% from the company’s current price.

According to Zacks, “Elbit Systems is a worldwide leader in Night Vision Goggles Head-Up Displays (“NVG-HUD”). They are a major supplier to the U.S Army and U.S. Marine Corps of Night Vision Head-Up Display systems for use in various types of helicopters. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications programs throughout the world. Their focus is on the upgrading of existing military platforms and developing new technologies for defense applications. “

ESLT traded down $0.54 during trading on Thursday, reaching $151.78. The company had a trading volume of 38,680 shares, compared to its average volume of 36,327. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.12 and a quick ratio of 0.73. Elbit Systems has a 12 month low of $116.60 and a 12 month high of $162.77. The business’s fifty day moving average price is $148.88 and its 200 day moving average price is $139.33. The company has a market cap of $6.70 billion, a P/E ratio of 25.95 and a beta of 0.84.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Monday, November 22nd. The aerospace company reported $2.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.48. Elbit Systems had a net margin of 5.25% and a return on equity of 15.12%. During the same period last year, the company earned $1.64 EPS. As a group, sell-side analysts predict that Elbit Systems will post 7.6 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd lifted its position in shares of Elbit Systems by 12.0% in the third quarter. Altshuler Shaham Ltd now owns 867,789 shares of the aerospace company’s stock worth $126,865,000 after purchasing an additional 92,910 shares in the last quarter. Vanguard Group Inc. increased its holdings in Elbit Systems by 0.3% during the second quarter. Vanguard Group Inc. now owns 682,529 shares of the aerospace company’s stock worth $88,558,000 after buying an additional 1,737 shares during the last quarter. ARK Investment Management LLC increased its holdings in Elbit Systems by 6.8% during the second quarter. ARK Investment Management LLC now owns 367,657 shares of the aerospace company’s stock worth $47,703,000 after buying an additional 23,378 shares during the last quarter. Meitav Dash Investments Ltd. increased its holdings in Elbit Systems by 207.0% during the third quarter. Meitav Dash Investments Ltd. now owns 307,111 shares of the aerospace company’s stock worth $44,664,000 after buying an additional 207,066 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in Elbit Systems during the second quarter worth $17,788,000. 12.02% of the stock is currently owned by institutional investors and hedge funds.

About Elbit Systems

Elbit Systems Ltd. is a technology company, which engages in the development and distribution of defense and homeland security solutions. Its portfolio includes airborne, land, and naval systems and products for defense, homeland security, and commercial applications. The company was founded in 1996 and is headquartered in Haifa, Israel.

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