BidaskClub Downgrades ESCO Technologies Inc. (ESE) to Buy

BidaskClub cut shares of ESCO Technologies Inc. (NYSE:ESE) from a strong-buy rating to a buy rating in a research report report published on Monday, July 31st.

ESE has been the subject of several other reports. Wunderlich assumed coverage on ESCO Technologies in a research report on Tuesday, June 13th. They set a buy rating and a $71.00 price objective for the company. FBR & Co reaffirmed an outperform rating on shares of ESCO Technologies in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $66.50.

ESCO Technologies (ESE) traded up 0.47% on Monday, hitting $53.95. 173,232 shares of the company’s stock traded hands. The stock has a market cap of $1.39 billion, a P/E ratio of 27.25 and a beta of 1.01. ESCO Technologies has a 12 month low of $42.95 and a 12 month high of $63.80. The stock has a 50 day moving average price of $59.34 and a 200-day moving average price of $57.77.

ESCO Technologies (NYSE:ESE) last issued its quarterly earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.01. ESCO Technologies had a return on equity of 8.36% and a net margin of 8.06%. The company had revenue of $172 million for the quarter, compared to the consensus estimate of $172 million. During the same quarter in the prior year, the business earned $0.49 EPS. ESCO Technologies’s revenue was up 22.7% on a year-over-year basis. Equities analysts predict that ESCO Technologies will post $2.08 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, October 2nd. ESCO Technologies’s dividend payout ratio is presently 16.16%.

Hedge funds have recently bought and sold shares of the stock. LS Investment Advisors LLC increased its stake in ESCO Technologies by 96.9% in the first quarter. LS Investment Advisors LLC now owns 1,900 shares of the scientific and technical instruments company’s stock valued at $110,000 after buying an additional 935 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of ESCO Technologies by 3,191.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,909 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 1,851 shares during the period. PNC Financial Services Group Inc. increased its position in shares of ESCO Technologies by 7.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,116 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 152 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of ESCO Technologies during the first quarter worth about $128,000. Finally, Envestnet Asset Management Inc. increased its position in shares of ESCO Technologies by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,641 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 150 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

ESCO Technologies Company Profile

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.

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