Canaccord Genuity Cuts Esterline Technologies (ESL) Price Target to $90.00

Esterline Technologies (NYSE:ESL) had its price objective reduced by Canaccord Genuity from $92.00 to $90.00 in a research note released on Friday, November 10th. Canaccord Genuity currently has a hold rating on the aerospace company’s stock.

ESL has been the topic of several other research reports. ValuEngine lowered Esterline Technologies from a buy rating to a hold rating in a research note on Thursday, November 9th. SunTrust Banks reiterated a buy rating on shares of Esterline Technologies in a research note on Thursday, October 12th. Zacks Investment Research upgraded Esterline Technologies from a strong sell rating to a hold rating in a research note on Wednesday, October 11th. Drexel Hamilton lowered Esterline Technologies from a buy rating to a hold rating in a research note on Friday, November 10th. Finally, Jefferies Group reiterated a hold rating and issued a $90.00 price target (down previously from $92.00) on shares of Esterline Technologies in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has an average rating of Hold and an average price target of $90.33.

Esterline Technologies (NYSE:ESL) traded down $0.95 during trading on Friday, reaching $71.05. The company’s stock had a trading volume of 283,200 shares, compared to its average volume of 163,719. Esterline Technologies has a 12-month low of $69.10 and a 12-month high of $102.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 3.25. The company has a market cap of $2,146.89, a price-to-earnings ratio of 16.38, a PEG ratio of 1.53 and a beta of 1.54.

Esterline Technologies (NYSE:ESL) last posted its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The company had revenue of $531.50 million for the quarter, compared to the consensus estimate of $540.55 million. During the same quarter last year, the business earned $1.96 EPS. Esterline Technologies’s revenue was down 2.3% on a year-over-year basis. equities analysts expect that Esterline Technologies will post 3.85 earnings per share for the current year.

In related news, Director Nils Larsen bought 1,450 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $70.51 per share, with a total value of $102,239.50. Following the acquisition, the director now owns 2,690 shares of the company’s stock, valued at $189,671.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder J Richard Atwood sold 31,155 shares of Esterline Technologies stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.04, for a total value of $2,992,126.20. The disclosure for this sale can be found here. Insiders have sold a total of 269,911 shares of company stock worth $25,692,702 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Esterline Technologies by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock valued at $104,000 after purchasing an additional 133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Esterline Technologies by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock valued at $112,000 after purchasing an additional 120 shares during the period. Flinton Capital Management LLC lifted its stake in shares of Esterline Technologies by 57.4% in the 2nd quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock valued at $129,000 after purchasing an additional 496 shares during the period. Pacad Investment Ltd. lifted its stake in shares of Esterline Technologies by 100.0% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock valued at $171,000 after purchasing an additional 900 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Esterline Technologies in the 2nd quarter valued at about $202,000. 91.28% of the stock is currently owned by institutional investors.

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About Esterline Technologies

Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.

Analyst Recommendations for Esterline Technologies (NYSE:ESL)

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