Esterline Technologies’ (NYSE:ESL) “Hold” Rating Reiterated at Jefferies Group

Jefferies Group restated their hold rating on shares of Esterline Technologies (NYSE:ESL) in a research report released on Monday, January 8th. The brokerage currently has a $83.00 target price on the aerospace company’s stock.

Several other brokerages have also weighed in on ESL. Seaport Global Securities initiated coverage on shares of Esterline Technologies in a report on Tuesday, September 12th. They issued a neutral rating and a $93.00 price objective on the stock. Credit Suisse Group restated a neutral rating and issued a $70.00 price objective (down from $100.00) on shares of Esterline Technologies in a report on Tuesday, December 12th. SunTrust Banks lowered shares of Esterline Technologies from a buy rating to a hold rating and set a $106.00 price objective on the stock. in a report on Friday, November 10th. ValuEngine upgraded shares of Esterline Technologies from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Canaccord Genuity restated a hold rating on shares of Esterline Technologies in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Esterline Technologies presently has an average rating of Hold and an average target price of $80.17.

Shares of Esterline Technologies (NYSE ESL) traded down $0.15 during trading on Monday, reaching $75.25. 410,201 shares of the company’s stock traded hands, compared to its average volume of 242,550. Esterline Technologies has a 1 year low of $68.30 and a 1 year high of $102.70. The company has a market capitalization of $2,260.00, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.43. 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 (NYSE:ESL) last announced its 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 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 analyst estimates of $540.55 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. Esterline Technologies’s revenue for the quarter was down 2.3% on a year-over-year basis. equities analysts expect that Esterline Technologies will post 3.9 EPS for the current fiscal year.

In other news, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $75.63, for a total transaction of $453,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Curtis C. Reusser acquired 2,900 shares of the stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $70.00 per share, with a total value of $203,000.00. Following the transaction, the chairman now directly owns 39,199 shares of the company’s stock, valued at $2,743,930. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,800 shares of company stock worth $479,015 and sold 268,290 shares worth $25,452,666. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ESL. Lord Abbett & CO. LLC bought a new position in Esterline Technologies in the second quarter valued at $26,478,000. Fisher Asset Management LLC bought a new position in Esterline Technologies in the third quarter valued at $18,677,000. State of New Jersey Common Pension Fund D bought a new position in Esterline Technologies in the third quarter valued at $18,030,000. Walthausen & Co. LLC bought a new position in Esterline Technologies in the second quarter valued at $12,599,000. Finally, Fiduciary Management Inc. WI grew its position in Esterline Technologies by 14.5% in the second quarter. Fiduciary Management Inc. WI now owns 972,956 shares of the aerospace company’s stock valued at $92,236,000 after purchasing an additional 123,467 shares in the last quarter. 92.01% of the stock is owned by institutional investors and hedge funds.

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Esterline Technologies Company Profile

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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