Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Time to Sell?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $902.58, but opened at $867.02. Elbit Systems shares last traded at $877.5150, with a volume of 82,614 shares traded.

Analyst Ratings Changes

ESLT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Morgan Stanley started coverage on shares of Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price target for the company. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Elbit Systems currently has an average rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76. The firm has a market capitalization of $39.19 billion, a PE ratio of 89.42, a P/E/G ratio of 2.84 and a beta of 0.22. The company’s fifty day simple moving average is $715.55 and its 200 day simple moving average is $573.65.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in shares of Elbit Systems during the third quarter worth $26,000. CoreCap Advisors LLC purchased a new stake in Elbit Systems during the 4th quarter worth about $26,000. Traub Capital Management LLC bought a new position in Elbit Systems in the 2nd quarter worth about $31,000. Financial Consulate Inc. purchased a new position in Elbit Systems during the 3rd quarter valued at about $60,000. Finally, Wexford Capital LP bought a new stake in shares of Elbit Systems during the third quarter valued at about $63,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.