Canaccord Genuity Lowers Esterline Technologies Corporation (ESL) Price Target to $90.00

Esterline Technologies Corporation (NYSE:ESL) had its price objective dropped by equities research analysts at Canaccord Genuity from $92.00 to $90.00 in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the aerospace company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 27.48% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Drexel Hamilton cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) cut Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and dropped their price target for the company from $86.00 to $75.00 in a research report on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $90.00 price target (down previously from $92.00) on shares of Esterline Technologies Corporation in a research report on Wednesday, August 9th. Finally, Seaport Global Securities assumed coverage on Esterline Technologies Corporation in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $93.00 price target for the company. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Esterline Technologies Corporation currently has a consensus rating of “Hold” and a consensus price target of $92.33.

Esterline Technologies Corporation (NYSE ESL) traded down $18.79 during trading on Friday, reaching $70.60. The company’s stock had a trading volume of 1,042,400 shares, compared to its average volume of 183,968. Esterline Technologies Corporation has a 12 month low of $69.35 and a 12 month high of $102.70. The company has a current ratio of 3.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2,116.23, a P/E ratio of 16.16, a P/E/G ratio of 1.26 and a beta of 1.54.

Esterline Technologies Corporation (NYSE:ESL) last released its earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.26). Esterline Technologies Corporation had a net margin of 5.86% and a return on equity of 7.90%. The business had revenue of $531.50 million during the quarter, compared to analyst estimates of $540.55 million. During the same period last year, the business posted $1.96 EPS. Esterline Technologies Corporation’s revenue was down 2.3% compared to the same quarter last year. equities analysts anticipate that Esterline Technologies Corporation will post 4.96 EPS for the current fiscal year.

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In other Esterline Technologies Corporation news, major shareholder J Richard Atwood sold 173,979 shares of Esterline Technologies Corporation stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $95.24, for a total value of $16,569,759.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder First Pacific Advisors, Llc sold 8,931 shares of Esterline Technologies Corporation stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $95.21, for a total value of $850,320.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,911 shares of company stock valued at $25,692,702. 1.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Capital Management LLC grew its holdings in Esterline Technologies Corporation by 0.3% in the 2nd quarter. Janney Capital Management LLC now owns 4,515 shares of the aerospace company’s stock valued at $428,000 after buying an additional 15 shares during the period. Stephens Inc. AR grew its holdings in Esterline Technologies Corporation by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 3,490 shares of the aerospace company’s stock valued at $331,000 after buying an additional 15 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Esterline Technologies Corporation by 0.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,431 shares of the aerospace company’s stock valued at $1,368,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Esterline Technologies Corporation 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 buying an additional 120 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Esterline Technologies Corporation 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 buying an additional 133 shares during the period. Institutional investors own 91.95% of the company’s stock.

About Esterline Technologies Corporation

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 Corporation (NYSE:ESL)

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