Zacks Investment Research Upgrades ESCO Technologies (ESE) to Hold

ESCO Technologies (NYSE:ESE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “

A number of other brokerages also recently weighed in on ESE. B. Riley reiterated a “buy” rating on shares of ESCO Technologies in a report on Wednesday, November 1st. Stephens set a $65.00 price target on ESCO Technologies and gave the company an “equal weight” rating in a report on Wednesday, December 6th. Finally, Needham & Company LLC upgraded ESCO Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $68.75.

Shares of ESCO Technologies (NYSE:ESE) traded up $1.25 on Tuesday, hitting $66.35. The company’s stock had a trading volume of 252,673 shares, compared to its average volume of 127,980. ESCO Technologies has a one year low of $50.30 and a one year high of $66.80. The firm has a market cap of $1,680.00, a price-to-earnings ratio of 32.05 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.38 and a current ratio of 2.01.

ESCO Technologies (NYSE:ESE) last announced its earnings results on Tuesday, November 14th. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. ESCO Technologies had a return on equity of 8.64% and a net margin of 7.83%. The company had revenue of $207.01 million for the quarter, compared to analyst estimates of $211.02 million. During the same period in the prior year, the company posted $0.67 EPS. ESCO Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. analysts anticipate that ESCO Technologies will post 2.34 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System grew its stake in ESCO Technologies by 6.3% during the 3rd quarter. California Public Employees Retirement System now owns 39,113 shares of the scientific and technical instruments company’s stock worth $2,345,000 after buying an additional 2,313 shares during the last quarter. Bamco Inc. NY grew its stake in ESCO Technologies by 113.5% during the 3rd quarter. Bamco Inc. NY now owns 52,300 shares of the scientific and technical instruments company’s stock worth $3,135,000 after buying an additional 27,800 shares during the last quarter. Janus Henderson Group PLC grew its stake in ESCO Technologies by 5.1% during the 3rd quarter. Janus Henderson Group PLC now owns 783,565 shares of the scientific and technical instruments company’s stock worth $46,975,000 after buying an additional 37,812 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in ESCO Technologies by 11.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 366,375 shares of the scientific and technical instruments company’s stock worth $21,964,000 after buying an additional 39,101 shares during the last quarter. Finally, KBC Group NV grew its stake in ESCO Technologies by 57.7% during the 3rd quarter. KBC Group NV now owns 9,430 shares of the scientific and technical instruments company’s stock worth $565,000 after buying an additional 3,450 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

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About ESCO Technologies

ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.

Analyst Recommendations for ESCO Technologies (NYSE:ESE)

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