Zacks Investment Research lowered shares of Carlisle Companies (NYSE:CSL) from a hold rating to a sell rating in a research note released on Tuesday morning.
According to Zacks, “Given its strong international presence, Carlisle’s business is exposed to financial and credit markets, including interest rate and currency exchange rate fluctuations. Also, the company is susceptible to raw material and freight cost inflation, which in turn, is likely to affect its profitability. Moreover, the company’s high research and development costs are expected to hurt its margins in the near term. Further, stiff competition in the industry also adds to the company’s woes. This apart, Carlisle looks overvalued compared with the industry, for the last twelve months. However, solid recovery in the company’s Interconnect Technologies business via strong SatCom and Aerospace markets has set the tone for impressive growth in the future. Also, in the past one year, the company has outperformed the industry average.”
Separately, BMO Capital Markets dropped their target price on shares of Carlisle Companies from $130.00 to $120.00 and set an outperform rating on the stock in a report on Friday, April 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Carlisle Companies currently has an average rating of Hold and a consensus price target of $123.86.
Shares of CSL stock opened at $108.63 on Tuesday. Carlisle Companies has a 12-month low of $92.09 and a 12-month high of $119.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.45 and a current ratio of 3.14. The company has a market capitalization of $6.54 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.22 and a beta of 0.85.
Carlisle Companies (NYSE:CSL) last issued its earnings results on Tuesday, April 24th. The conglomerate reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.01. Carlisle Companies had a net margin of 14.48% and a return on equity of 12.97%. The company had revenue of $984.70 million for the quarter, compared to analysts’ expectations of $935.14 million. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. equities analysts predict that Carlisle Companies will post 5.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th were given a $0.37 dividend. The ex-dividend date was Monday, May 14th. This represents a $1.48 annualized dividend and a yield of 1.36%. Carlisle Companies’s payout ratio is presently 26.76%.
In other news, insider John E. Berlin sold 15,420 shares of the firm’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $105.50, for a total transaction of $1,626,810.00. Following the sale, the insider now directly owns 43,327 shares in the company, valued at approximately $4,570,998.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Altmeyer sold 11,650 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $107.41, for a total transaction of $1,251,326.50. Following the sale, the insider now owns 184,679 shares in the company, valued at $19,836,371.39. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in CSL. Pzena Investment Management LLC bought a new stake in shares of Carlisle Companies during the 1st quarter valued at $76,217,000. Anchor Bolt Capital LP grew its stake in Carlisle Companies by 2,196.8% during the fourth quarter. Anchor Bolt Capital LP now owns 547,845 shares of the conglomerate’s stock valued at $62,263,000 after acquiring an additional 523,992 shares in the last quarter. Prudential Financial Inc. grew its stake in Carlisle Companies by 281.7% during the first quarter. Prudential Financial Inc. now owns 320,379 shares of the conglomerate’s stock valued at $33,451,000 after acquiring an additional 236,437 shares in the last quarter. Wells Fargo & Company MN grew its stake in Carlisle Companies by 54.5% during the first quarter. Wells Fargo & Company MN now owns 613,359 shares of the conglomerate’s stock valued at $64,041,000 after acquiring an additional 216,252 shares in the last quarter. Finally, Fiduciary Management Inc. WI grew its stake in Carlisle Companies by 21.2% during the first quarter. Fiduciary Management Inc. WI now owns 1,092,362 shares of the conglomerate’s stock valued at $114,054,000 after acquiring an additional 191,348 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diversified manufacturing company. The company's Carlisle Construction Materials segment provides insulation materials; thermoplastic polyolefin, ehtylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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