Zacks Investment Research Downgrades Curtiss-Wright Corporation (CW) to Hold

Curtiss-Wright Corporation (NYSE:CW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “

Several other research firms also recently issued reports on CW. Stifel Nicolaus began coverage on shares of Curtiss-Wright Corporation in a report on Monday. They set a “hold” rating and a $100.00 price objective for the company. BidaskClub raised shares of Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. raised shares of Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $112.00 in a report on Monday, June 5th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.20.

Curtiss-Wright Corporation (NYSE:CW) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million for the quarter, compared to analyst estimates of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. Curtiss-Wright Corporation’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS.

WARNING: This piece was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://stocknewstimes.com/2017/09/21/zacks-investment-research-downgrades-curtiss-wright-corporation-cw-to-hold.html.

In other Curtiss-Wright Corporation news, Director S Marce Fuller sold 1,300 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now directly owns 14,960 shares of the company’s stock, valued at approximately $1,438,553.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CW. BlackRock Inc. boosted its holdings in Curtiss-Wright Corporation by 25,824.5% in the 1st quarter. BlackRock Inc. now owns 5,099,604 shares of the aerospace company’s stock valued at $465,389,000 after purchasing an additional 5,079,933 shares during the period. Capital Research Global Investors acquired a new position in shares of Curtiss-Wright Corporation in the 2nd quarter valued at $42,330,000. Voya Investment Management LLC raised its stake in shares of Curtiss-Wright Corporation by 137.8% in the 2nd quarter. Voya Investment Management LLC now owns 584,459 shares of the aerospace company’s stock valued at $53,641,000 after buying an additional 338,718 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Curtiss-Wright Corporation by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 3,583,354 shares of the aerospace company’s stock valued at $327,018,000 after buying an additional 331,982 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Curtiss-Wright Corporation in the 2nd quarter valued at $27,768,000. 76.18% of the stock is owned by hedge funds and other institutional investors.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.

Analyst Recommendations for Curtiss-Wright Corporation (NYSE:CW)

Receive News & Ratings for Curtiss-Wright Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Curtiss-Wright Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply