Esterline Technologies’ (ESL) Hold Rating Reiterated at Jefferies Group

Jefferies Group restated their hold rating on shares of Esterline Technologies (NYSE:ESL) in a research report sent to investors on Monday. They currently have a $83.00 price target on the aerospace company’s stock.

Other research analysts also recently issued reports about the company. ValuEngine upgraded Esterline Technologies from a hold rating to a buy rating in a research note on Sunday, December 31st. SunTrust Banks reiterated a buy rating on shares of Esterline Technologies in a research note on Thursday, October 12th. Canaccord Genuity reiterated a hold rating on shares of Esterline Technologies in a research note on Friday, October 13th. Drexel Hamilton downgraded Esterline Technologies from a buy rating to a hold rating in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded Esterline Technologies from a strong sell rating to a hold rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Esterline Technologies has an average rating of Hold and an average price target of $80.17.

Shares of Esterline Technologies (ESL) traded down $2.00 during midday trading on Monday, hitting $75.40. The stock had a trading volume of 206,053 shares, compared to its average volume of 227,344. 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 one year low of $68.30 and a one year high of $102.70. The company has a market cap of $2,260.00, a P/E ratio of 18.17, a P/E/G ratio of 1.61 and a beta of 1.43.

Esterline Technologies (NYSE:ESL) last issued its earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.26). Esterline Technologies had a return on equity of 8.25% and a net margin of 6.99%. The business had revenue of $531.50 million for the quarter, compared to the consensus estimate of $540.55 million. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. equities analysts predict that Esterline Technologies will post 3.85 EPS for the current fiscal year.

In related news, major shareholder J Richard Atwood sold 31,155 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.04, for a total value of $2,992,126.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nils Larsen acquired 1,450 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was bought at an average cost of $70.51 per share, with a total value of $102,239.50. Following the completion of the acquisition, the director now directly owns 2,690 shares in the company, valued at $189,671.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,800 shares of company stock valued at $479,015 and sold 268,290 shares valued at $25,452,666. Insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in Esterline Technologies by 7.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,360 shares of the aerospace company’s stock valued at $1,222,000 after acquiring an additional 1,200 shares in the last quarter. California Public Employees Retirement System raised its holdings in Esterline Technologies by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 83,065 shares of the aerospace company’s stock valued at $7,488,000 after acquiring an additional 1,265 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Esterline Technologies by 83.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 14,931 shares of the aerospace company’s stock valued at $1,346,000 after acquiring an additional 6,813 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Esterline Technologies in the 3rd quarter valued at $1,037,000. Finally, Jane Street Group LLC acquired a new position in Esterline Technologies in the 3rd quarter valued at $470,000. 92.00% of the stock is owned by hedge funds and other 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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