Esterline Technologies (ESL) Upgraded to Hold by Zacks Investment Research

Esterline Technologies (NYSE:ESL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, January 10th.

According to Zacks, “Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. 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. The Company serves aerospace and defense customers. The Company’s Avionics & Controls business segment includes avionics systems, control and communication systems, and interface technologies capabilities. The Company’s Sensors & Systems business segment includes power systems, connection technologies and advanced sensors capabilities. The Company’s Advanced Materials business segment includes engineered materials and defense technologies capabilities. It designs and manufactures ruggedized military personal communication equipment, primarily headsets, handsets and field communications. “

Other equities research analysts have also issued reports about the company. SunTrust Banks restated a “buy” rating on shares of Esterline Technologies in a research report on Thursday, October 12th. ValuEngine upgraded Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group reaffirmed a “hold” rating and set a $83.00 price target on shares of Esterline Technologies in a research note on Monday, January 8th. Canaccord Genuity reaffirmed a “hold” rating and set a $78.00 price target on shares of Esterline Technologies in a research note on Monday, November 27th. Finally, Drexel Hamilton downgraded Esterline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $80.17.

Esterline Technologies (NYSE:ESL) traded up $1.85 during trading hours on Wednesday, hitting $76.00. The company had a trading volume of 204,343 shares, compared to its average volume of 183,451. 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 has a fifty-two week low of $68.30 and a fifty-two week high of $102.70. The firm has a market cap of $2,258.87, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.43.

Esterline Technologies (NYSE:ESL) last released its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). Esterline Technologies 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 analyst estimates of $540.55 million. During the same quarter last year, the business earned $1.96 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. analysts anticipate that Esterline Technologies will post 3.9 EPS for the current year.

In other Esterline Technologies news, major shareholder J Richard Atwood sold 173,979 shares of Esterline Technologies stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $95.24, for a total value of $16,569,759.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Curtis C. Reusser purchased 2,900 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average cost of $70.00 per share, for a total transaction of $203,000.00. Following the completion of the transaction, the chairman now owns 39,199 shares in the company, valued at $2,743,930. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 6,800 shares of company stock worth $479,015 and sold 268,290 shares worth $25,452,666. 1.40% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in ESL. State Board of Administration of Florida Retirement System grew its holdings in shares of Esterline Technologies by 30.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,947 shares of the aerospace company’s stock worth $1,701,000 after purchasing an additional 4,194 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Esterline Technologies during the 2nd quarter worth approximately $548,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Esterline Technologies by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock worth $112,000 after purchasing an additional 120 shares in the last quarter. Pacad Investment Ltd. grew its holdings in shares of Esterline Technologies by 100.0% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock worth $171,000 after purchasing an additional 900 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Esterline Technologies by 0.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,431 shares of the aerospace company’s stock worth $1,368,000 after purchasing an additional 100 shares in the last quarter. 92.01% of the stock is currently owned by 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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