Carlisle Companies (CSL) Upgraded to Hold by Zacks Investment Research
Carlisle Companies (NYSE:CSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses with highly engineered and high margin products. Carlisle is committed to generating superior shareholder returns by combining a unique management style of decentralization, entrepreneurial spirit, active M&A, and a balanced approach to capital deployment, all with a culture of continuous improvement as embodied in the Carlisle Operating System. Carlisle’s markets include: commercial roofing, agriculture, mining, construction, aerospace, defense, foodservice, healthcare, sanitary maintenance, transportation, industrial, protective coating and auto refinishing. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, Carlisle Brake & Friction, and Carlisle FoodService Products. Carlisle remains committed to the core philosophies of Decentralization, Diversification, Continuous Improvement and an Entrepreneurial Culture. “
Several other brokerages also recently weighed in on CSL. Robert W. Baird lifted their price objective on shares of Carlisle Companies from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. FBR & Co set a $125.00 price objective on shares of Carlisle Companies and gave the company a “buy” rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and issued a $130.00 price objective on shares of Carlisle Companies in a research report on Friday. B. Riley set a $125.00 price objective on shares of Carlisle Companies and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer reiterated a “hold” rating on shares of Carlisle Companies in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $124.63.
Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.20. Carlisle Companies had a net margin of 8.94% and a return on equity of 13.60%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. equities analysts expect that Carlisle Companies will post 6.14 EPS for the current year.
Carlisle Companies announced that its board has approved a share repurchase program on Tuesday, February 6th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the business. Eaton Vance Management raised its position in shares of Carlisle Companies by 32.2% during the 4th quarter. Eaton Vance Management now owns 66,658 shares of the conglomerate’s stock worth $7,576,000 after buying an additional 16,250 shares in the last quarter. State of Tennessee Treasury Department raised its position in shares of Carlisle Companies by 37.2% during the 4th quarter. State of Tennessee Treasury Department now owns 105,785 shares of the conglomerate’s stock worth $12,022,000 after buying an additional 28,685 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Carlisle Companies by 416.0% during the 4th quarter. First Republic Investment Management Inc. now owns 12,983 shares of the conglomerate’s stock worth $1,476,000 after buying an additional 10,467 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Carlisle Companies by 40.6% during the 4th quarter. Citadel Advisors LLC now owns 91,028 shares of the conglomerate’s stock worth $10,346,000 after buying an additional 26,288 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its position in shares of Carlisle Companies by 2.1% during the 4th quarter. Stanley Laman Group Ltd. now owns 49,306 shares of the conglomerate’s stock worth $5,604,000 after buying an additional 996 shares in the last quarter. Institutional investors own 88.35% of the company’s stock.
Carlisle Companies Company Profile
Carlisle Companies Incorporated is a manufacturing company. The Company designs, manufactures and markets a range of products that serve a range of markets, including commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, transportation, general industrial, protective coatings, wood, auto refinishing, foodservice, and healthcare and sanitary maintenance.
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