Elbit Systems (ESLT) Downgraded by BidaskClub

Elbit Systems (NASDAQ:ESLT) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

NASDAQ:ESLT traded down $0.28 on Tuesday, reaching $122.77. 9,321 shares of the company’s stock traded hands, compared to its average volume of 16,236. The company has a quick ratio of 0.87, a current ratio of 1.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $5.26 billion, a PE ratio of 19.63 and a beta of 0.85. Elbit Systems has a 12 month low of $109.81 and a 12 month high of $151.91.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, November 20th. The aerospace company reported $1.63 EPS for the quarter. The business had revenue of $895.15 million for the quarter. Elbit Systems had a return on equity of 14.99% and a net margin of 7.61%.

Several hedge funds have recently modified their holdings of ESLT. Quadrant Capital Group LLC bought a new stake in shares of Elbit Systems in the fourth quarter worth about $83,000. SG Americas Securities LLC bought a new stake in shares of Elbit Systems in the third quarter worth about $100,000. Paloma Partners Management Co bought a new stake in shares of Elbit Systems in the second quarter worth about $229,000. Virtu Financial LLC bought a new stake in shares of Elbit Systems in the fourth quarter worth about $237,000. Finally, Voya Investment Management LLC increased its holdings in shares of Elbit Systems by 13.3% in the second quarter. Voya Investment Management LLC now owns 4,030 shares of the aerospace company’s stock worth $473,000 after purchasing an additional 473 shares during the last quarter. 7.50% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; command, control, communications, computer, and intelligence systems; electronic warfare and signal intelligence systems; and commercial cyber security products.

Further Reading: The mechanics of the bid-ask spread in trading

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