Woodward (WWD) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Woodward (NASDAQ:WWD) from a hold rating to a sell rating in a report published on Sunday morning.

According to Zacks, “Woodward witnessed further deterioration of the natural gas truck market in China and continued weakness in reciprocating engine power generation and other OEM large capital equipment projects. Moreover, persistent weakness in large capital projects remains one of the major dampeners for Woodward's industrial segment. This business has been witnessing continuous weakness for the past few quarters, which in turn has affected its financial results. This may have led the company’s shares to underperform the broader industry in last one year. Nevertheless, it stands to benefit from increased global usage of natural gas as a source of electricity and transportation fuel.”

Several other brokerages have also recently weighed in on WWD. Cowen reaffirmed a hold rating and issued a $62.00 target price on shares of Woodward in a report on Thursday, November 9th. BidaskClub raised shares of Woodward from a sell rating to a hold rating in a report on Tuesday, January 9th. Oppenheimer reaffirmed a market perform rating and issued a $82.00 target price on shares of Woodward in a report on Thursday, October 26th. Wood & Company cut shares of Woodward from an outperform rating to a market perform rating in a report on Thursday, October 26th. Finally, ValuEngine cut shares of Woodward from a buy rating to a hold rating in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Woodward has a consensus rating of Hold and an average price target of $79.25.

Shares of Woodward (NASDAQ WWD) traded up $1.17 on Friday, hitting $80.50. 459,300 shares of the stock traded hands, compared to its average volume of 371,285. The firm has a market capitalization of $4,930.73, a PE ratio of 25.47, a PEG ratio of 1.98 and a beta of 1.24. Woodward has a 1-year low of $65.22 and a 1-year high of $84.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.39 and a quick ratio of 1.28.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The business had revenue of $606.79 million for the quarter, compared to analysts’ expectations of $596.99 million. Woodward had a net margin of 9.55% and a return on equity of 15.55%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. equities research analysts forecast that Woodward will post 3.39 EPS for the current year.

In other news, Director Mary L. Petrovich sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $79.69, for a total transaction of $454,233.00. Following the transaction, the director now directly owns 27,904 shares in the company, valued at $2,223,669.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.17% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its position in shares of Woodward by 9.8% during the second quarter. Advisor Group Inc. now owns 1,654 shares of the technology company’s stock worth $112,000 after acquiring an additional 147 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Woodward by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 3,115 shares of the technology company’s stock worth $211,000 after purchasing an additional 171 shares during the period. Amalgamated Bank lifted its holdings in shares of Woodward by 5.1% during the second quarter. Amalgamated Bank now owns 7,684 shares of the technology company’s stock worth $519,000 after purchasing an additional 373 shares during the period. Virtu KCG Holdings LLC lifted its holdings in shares of Woodward by 5.6% during the second quarter. Virtu KCG Holdings LLC now owns 10,152 shares of the technology company’s stock worth $686,000 after purchasing an additional 540 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Woodward by 1.3% during the second quarter. Mutual of America Capital Management LLC now owns 45,219 shares of the technology company’s stock worth $3,056,000 after purchasing an additional 599 shares during the period. Institutional investors and hedge funds own 72.17% of the company’s stock.

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About Woodward

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

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