Zacks Investment Research Lowers CIRCOR International (CIR) to Sell
CIRCOR International (NYSE:CIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “
A number of other analysts also recently commented on CIR. Citigroup began coverage on CIRCOR International in a research note on Tuesday, August 21st. They issued a “neutral” rating and a $50.00 price objective on the stock. ValuEngine raised CIRCOR International from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, KeyCorp dropped their price objective on CIRCOR International from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. CIRCOR International presently has a consensus rating of “Hold” and an average target price of $52.00.
CIRCOR International (NYSE:CIR) last posted its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.08. CIRCOR International had a positive return on equity of 6.57% and a negative net margin of 1.43%. The company had revenue of $301.37 million for the quarter, compared to the consensus estimate of $282.31 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 99.3% compared to the same quarter last year. On average, research analysts forecast that CIRCOR International will post 2.18 EPS for the current year.
Several institutional investors have recently made changes to their positions in CIR. Peregrine Capital Management LLC acquired a new stake in shares of CIRCOR International during the second quarter worth $18,001,000. Gamco Investors INC. ET AL raised its position in shares of CIRCOR International by 20.5% during the second quarter. Gamco Investors INC. ET AL now owns 1,765,280 shares of the industrial products company’s stock worth $65,245,000 after purchasing an additional 300,570 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of CIRCOR International by 11.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 716,368 shares of the industrial products company’s stock worth $30,561,000 after purchasing an additional 76,308 shares during the period. Gabelli Funds LLC raised its position in shares of CIRCOR International by 4.5% during the second quarter. Gabelli Funds LLC now owns 1,014,552 shares of the industrial products company’s stock worth $37,498,000 after purchasing an additional 44,052 shares during the period. Finally, J.P. Marvel Investment Advisors LLC acquired a new stake in shares of CIRCOR International during the second quarter worth $1,046,000. 90.13% of the stock is currently owned by institutional investors.
About CIRCOR International
CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Advanced Flow Solutions, and Fluid Handling. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices, and fluid catalytic converter and isolation valves.
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