Esterline (NYSE:ESL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Esterline Corporation is a specialized manufacturing company serving principally aerospace and defense markets. Esterline views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit displays and integration systems and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment interconnect solutions, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies including high-performance elastomer products used for a wide range of military and commercial aerospace purposes. “

Several other research analysts have also recently issued reports on the company. ValuEngine upgraded Esterline from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Bank of America increased their price objective on Esterline from $70.00 to $75.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Credit Suisse Group increased their price objective on Esterline from $70.00 to $72.00 and gave the stock an “underperform” rating in a research report on Monday, February 5th. SunTrust Banks reiterated a “hold” rating and issued a $82.00 price objective on shares of Esterline in a research report on Tuesday, January 9th. Finally, Barclays assumed coverage on Esterline in a research report on Thursday, March 29th. They issued an “underweight” rating and a $76.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $79.78.

Shares of NYSE ESL opened at $73.85 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.43 and a quick ratio of 2.09. Esterline has a 1-year low of $67.15 and a 1-year high of $102.70. The firm has a market cap of $2,184.55, a P/E ratio of 16.80, a P/E/G ratio of 1.61 and a beta of 1.23.

Esterline (NYSE:ESL) last issued its quarterly earnings results on Thursday, February 1st. The aerospace company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Esterline had a return on equity of 6.91% and a net margin of 3.31%. The firm had revenue of $482.30 million during the quarter, compared to the consensus estimate of $459.38 million. During the same period last year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts predict that Esterline will post 3.79 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ESL. LSV Asset Management purchased a new position in shares of Esterline in the fourth quarter valued at $112,000. Dowling & Yahnke LLC purchased a new position in shares of Esterline in the fourth quarter valued at $217,000. ING Groep NV increased its position in shares of Esterline by 23.2% in the fourth quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after buying an additional 750 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Esterline in the fourth quarter valued at $299,000. Finally, Teton Advisors Inc. purchased a new position in shares of Esterline in the fourth quarter valued at $331,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Esterline Company Profile

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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Analyst Recommendations for Esterline (NYSE:ESL)

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