In a report released today, Bryan Blair from Oppenheimer maintained a Hold rating on Carlisle Companies Inc (NYSE: CSL). The company’s shares closed yesterday at $102.48.
Blair noted:
“CSL reported 3Q adj. EPS of $1.59, below our $1.70E on weaker than anticipated CCM results. While core CCM price/cost turned favorable in 3Q (a notable positive), volumes were restricted by inclement weather (Texas, East Coast rainfall) and executive retirement costs pressured reported margin. Accella volume and profitability (run rate margins in LSD range) were also impacted by greater than expected price sensitivity in the market. Overall, it was a noisy quarter for CSL (particularly CCM) and we anticipate temporary profit headwinds (e.g., weak Accella contribution, elevated CBF restructuring) persist through 4Q. That said, we believe CSL has the potential for materially improved margin/returns across segments in 2019 (value- creation prospects enhanced by $1.5B+ in dry powder) and we remain intrigued by its discounted valuation.”
According to TipRanks.com, Blair is a 1-star analyst with an average return of -10.5% and a 7.1% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Mueller Water Products, and Rexnord Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carlisle Companies Inc with a $133.75 average price target.
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The company has a one-year high of $129.47 and a one-year low of $97.03. Currently, Carlisle Companies Inc has an average volume of 438K.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock.
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Carlisle Cos., Inc. engages in the manufacture and distribution of engineered products for both original equipment and aftermarket channels. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle FoodService Products, Carlisle Fluid Technologies, and Carlisle Brake & Friction.
