Bank of America Issues Positive Forecast for Elbit Systems (NASDAQ:ESLT) Stock Price

Elbit Systems (NASDAQ:ESLT) had its target price boosted by investment analysts at Bank of America from $500.00 to $540.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Bank of America‘s price target would suggest a potential upside of 11.32% from the company’s current price.

Separately, Wall Street Zen lowered shares of Elbit Systems from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $540.00.

Elbit Systems Trading Up 5.7%

NASDAQ ESLT traded up $26.38 during trading on Tuesday, hitting $485.09. The company had a trading volume of 121,000 shares, compared to its average volume of 106,310. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Elbit Systems has a one year low of $188.53 and a one year high of $494.32. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 1.76 and a beta of 0.33. The company’s fifty day moving average is $449.64 and its 200-day moving average is $403.02.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business earned $2.08 EPS. On average, sell-side analysts predict that Elbit Systems will post 8.05 earnings per share for the current year.

Institutional Trading of Elbit Systems

Several institutional investors have recently bought and sold shares of ESLT. Activest Wealth Management purchased a new stake in Elbit Systems during the 2nd quarter valued at about $28,000. Larson Financial Group LLC purchased a new stake in Elbit Systems during the 1st quarter valued at about $29,000. Traub Capital Management LLC purchased a new stake in Elbit Systems during the 2nd quarter valued at about $31,000. SBI Securities Co. Ltd. grew its position in Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 107 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of Elbit Systems during the 2nd quarter valued at about $68,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.