Esterline Technologies Corporation (ESL) Price Target Cut to $90.00 by Analysts at Canaccord Genuity

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

ESL has been the topic of several other reports. Jefferies Group LLC restated a hold rating and set a $92.00 target price on shares of Esterline Technologies Corporation in a research note on Tuesday, July 25th. SunTrust Banks, Inc. restated a buy rating on shares of Esterline Technologies Corporation in a research note on Thursday, October 12th. Zacks Investment Research downgraded Esterline Technologies Corporation from a hold rating to a strong sell rating in a research note on Thursday, October 19th. BidaskClub upgraded Esterline Technologies Corporation from a sell rating to a hold rating in a research note on Wednesday, July 19th. Finally, ValuEngine downgraded Esterline Technologies Corporation from a buy rating to a hold rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $92.33.

Shares of Esterline Technologies Corporation (NYSE:ESL) traded down $0.75 during trading hours on Friday, hitting $69.85. The stock had a trading volume of 596,500 shares, compared to its average volume of 156,266. Esterline Technologies Corporation has a twelve month low of $69.10 and a twelve month high of $102.70. The stock has a market cap of $2,116.23, a P/E ratio of 16.16, a PEG ratio of 1.28 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03.

Esterline Technologies Corporation (NYSE:ESL) last announced its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). Esterline Technologies Corporation had a net margin of 5.86% and a return on equity of 7.68%. The company had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $540.55 million. During the same quarter in the prior year, the business posted $1.96 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. sell-side analysts forecast that Esterline Technologies Corporation will post 4.96 EPS for the current fiscal year.

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In other Esterline Technologies Corporation news, major shareholder First Pacific Advisors, Llc sold 8,931 shares of Esterline Technologies Corporation stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $95.21, for a total transaction of $850,320.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder J Richard Atwood sold 31,155 shares of Esterline Technologies Corporation 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. In the last ninety days, insiders have sold 269,911 shares of company stock valued at $25,692,702. 1.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in Esterline Technologies Corporation by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock worth $104,000 after acquiring an additional 133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Esterline Technologies Corporation 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 buying an additional 120 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Esterline Technologies Corporation 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 buying an additional 496 shares during the period. Pacad Investment Ltd. lifted its holdings in shares of Esterline Technologies Corporation 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 buying an additional 900 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Esterline Technologies Corporation in the 2nd quarter valued at about $202,000. 91.30% of the stock is owned by institutional investors.

About Esterline Technologies Corporation

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 Corporation (NYSE:ESL)

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