SunTrust Banks Reaffirms “Hold” Rating for Esterline Technologies (ESL)

Esterline Technologies (NYSE:ESL)‘s stock had its “hold” rating reiterated by research analysts at SunTrust Banks in a research report issued to clients and investors on Tuesday. They currently have a $82.00 price objective on the aerospace company’s stock. SunTrust Banks’ target price indicates a potential upside of 7.54% from the stock’s current price. SunTrust Banks also issued estimates for Esterline Technologies’ FY2018 earnings at $4.04 EPS and FY2019 earnings at $5.50 EPS.

A number of other analysts also recently weighed in on the company. Jefferies Group restated a “hold” rating and issued a $83.00 target price on shares of Esterline Technologies in a research report on Monday. ValuEngine upgraded Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Credit Suisse Group restated a “neutral” rating and issued a $70.00 target price (down previously from $100.00) on shares of Esterline Technologies in a research report on Tuesday, December 12th. Canaccord Genuity restated a “hold” rating and issued a $78.00 target price on shares of Esterline Technologies in a research report on Monday, November 27th. Finally, Drexel Hamilton downgraded Esterline Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.17.

Shares of Esterline Technologies (NYSE:ESL) opened at $76.25 on Tuesday. The firm has a market capitalization of $2,270.00, a P/E ratio of 18.37, a P/E/G ratio of 1.61 and a beta of 1.43. Esterline Technologies has a 12-month low of $68.30 and a 12-month high of $102.70. 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 (NYSE:ESL) last released its earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). The firm had revenue of $531.50 million during the quarter, compared to the consensus estimate of $540.55 million. Esterline Technologies had a return on equity of 7.68% and a net margin of 5.86%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 EPS. analysts expect that Esterline Technologies will post 3.85 earnings per share for the current fiscal year.

In related news, Director Delores M. Etter acquired 1,000 shares of the stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $72.13 per share, for a total transaction of $72,130.00. Following the completion of the transaction, the director now owns 13,627 shares of the company’s stock, valued at approximately $982,915.51. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Curtis C. Reusser acquired 2,900 shares of the stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $70.00 per share, with a total value of $203,000.00. Following the transaction, the chairman now directly owns 39,199 shares of the company’s stock, valued at approximately $2,743,930. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 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 have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in Esterline Technologies by 1.5% in the third quarter. California Public Employees Retirement System now owns 83,065 shares of the aerospace company’s stock valued at $7,488,000 after purchasing an additional 1,265 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Esterline Technologies by 83.9% during the third 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. bought a new position in shares of Esterline Technologies during the third quarter valued at approximately $1,037,000. Jane Street Group LLC bought a new position in shares of Esterline Technologies during the third quarter valued at approximately $470,000. Finally, Fiduciary Management Inc. WI raised its holdings in shares of Esterline Technologies by 6.6% during the third quarter. Fiduciary Management Inc. WI now owns 1,037,564 shares of the aerospace company’s stock valued at $93,536,000 after acquiring an additional 64,608 shares in the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

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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.

Analyst Recommendations for Esterline Technologies (NYSE:ESL)

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