Esterline Technologies (ESL) Earns “Neutral” Rating from Credit Suisse Group

Credit Suisse Group restated their neutral rating on shares of Esterline Technologies (NYSE:ESL) in a research report report published on Tuesday, The Fly reports. The firm currently has a $70.00 price target on the aerospace company’s stock, down from their prior price target of $100.00.

Several other analysts have also commented on ESL. ValuEngine lowered shares of Esterline Technologies from a buy rating to a hold rating in a research report on Friday, August 18th. Seaport Global Securities started coverage on shares of Esterline Technologies in a research report on Tuesday, September 12th. They set a neutral rating and a $93.00 price target for the company. Zacks Investment Research raised shares of Esterline Technologies from a strong sell rating to a hold rating in a research report on Wednesday, October 11th. SunTrust Banks reissued a buy rating on shares of Esterline Technologies in a research report on Thursday, October 12th. Finally, Canaccord Genuity reissued a hold rating on shares of Esterline Technologies in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $85.33.

Shares of Esterline Technologies (NYSE:ESL) traded up $0.45 during trading on Tuesday, reaching $71.90. 267,600 shares of the company’s stock traded hands, compared to its average volume of 173,078. The company has a market cap of $2,210.00, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.53 and a beta of 1.42. Esterline Technologies has a one year low of $68.30 and a one year high of $102.70. The company has a current ratio of 3.25, a quick ratio of 2.03 and a debt-to-equity ratio of 0.41.

Esterline Technologies (NYSE:ESL) last released its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.26). The firm had revenue of $531.50 million for the quarter, compared to analysts’ expectations of $540.55 million. Esterline Technologies had a net margin of 5.86% and a return on equity of 7.68%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. research analysts predict that Esterline Technologies will post 3.85 earnings per share for the current year.

In related news, Chairman Curtis C. Reusser acquired 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased 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 approximately $2,743,930. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $91.04, for a total transaction of $693,815.84. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 6,800 shares of company stock valued at $479,015 and sold 269,911 shares valued at $25,692,702. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in ESL. PNC Financial Services Group Inc. raised its position 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 last quarter. Flinton Capital Management LLC raised its position 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 last quarter. Pacad Investment Ltd. raised its position 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 last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Esterline Technologies in the 2nd quarter valued at approximately $202,000. 91.26% of the stock is owned by hedge funds and other institutional investors.

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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.

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