Elbit Systems (NASDAQ:ESLT) Downgraded by Zacks Research to “Hold”

Elbit Systems (NASDAQ:ESLT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on ESLT. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a research note on Wednesday, October 8th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price for the company. Finally, Bank of America raised their price objective on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $530.00.

Elbit Systems Stock Down 2.4%

ESLT stock opened at $471.59 on Wednesday. Elbit Systems has a fifty-two week low of $234.48 and a fifty-two week high of $529.99. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $20.96 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.30. The firm’s 50-day simple moving average is $492.90 and its 200 day simple moving average is $455.45.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. As a group, sell-side analysts predict that Elbit Systems will post 8.05 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Elbit Systems by 35.1% in the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after buying an additional 158,689 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Elbit Systems by 226.6% in the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after acquiring an additional 134,300 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Elbit Systems by 27.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock worth $210,967,000 after purchasing an additional 101,083 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after purchasing an additional 82,103 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.