Credit Suisse Group Raises Woodward (NASDAQ:WWD) Price Target to $151.00


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Woodward (NASDAQ:WWD) had its price objective increased by Credit Suisse Group from $147.00 to $151.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 20.31% from the company’s previous close.

Separately, Truist upgraded Woodward from a “sell” rating to a “hold” rating and increased their target price for the stock from $70.00 to $101.00 in a research report on Monday, January 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.13.

WWD traded up $0.97 during midday trading on Tuesday, reaching $125.51. The company had a trading volume of 4,359 shares, compared to its average volume of 261,983. The company has a quick ratio of 1.36, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $122.66 and a two-hundred day moving average of $114.40. The company has a market cap of $7.91 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.84 and a beta of 1.51. Woodward has a 1 year low of $50.50 and a 1 year high of $127.91.

Woodward (NASDAQ:WWD) last released its earnings results on Monday, May 3rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.24. Woodward had a return on equity of 15.51% and a net margin of 9.25%. The firm had revenue of $581.32 million during the quarter, compared to analysts’ expectations of $573.50 million. During the same quarter last year, the business posted $1.61 earnings per share. The firm’s revenue was down 19.3% on a year-over-year basis. On average, equities research analysts predict that Woodward will post 3.72 EPS for the current year.

In other news, VP Christopher Fawzy sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $119.75, for a total value of $838,250.00. Following the completion of the sale, the vice president now directly owns 10,506 shares of the company’s stock, valued at approximately $1,258,093.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sagar A. Patel sold 83,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $115.87, for a total value of $9,663,558.00. Following the completion of the sale, the president now directly owns 24,116 shares of the company’s stock, valued at $2,794,320.92. The disclosure for this sale can be found here. Insiders sold a total of 213,604 shares of company stock valued at $25,151,523 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its stake in shares of Woodward by 333.8% during the 1st quarter. Meeder Asset Management Inc. now owns 282 shares of the technology company’s stock worth $34,000 after acquiring an additional 217 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Woodward during the 4th quarter worth approximately $49,000. Perennial Advisors LLC bought a new stake in shares of Woodward during the 4th quarter worth approximately $61,000. AdvisorNet Financial Inc increased its holdings in Woodward by 272.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,109 shares of the technology company’s stock worth $134,000 after purchasing an additional 811 shares during the period. Finally, Private Capital Group LLC increased its holdings in Woodward by 17.9% during the 4th quarter. Private Capital Group LLC now owns 1,267 shares of the technology company’s stock worth $154,000 after purchasing an additional 192 shares during the period. 81.02% of the stock is owned by hedge funds and other institutional investors.

Woodward Company Profile

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment offers fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles; and flight deck controls, actuators, servo controls, and motors and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.

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Analyst Recommendations for Woodward (NASDAQ:WWD)

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