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 $120.98.
Blair noted:
“We remain on the sidelines ahead of CSL’s 3Q18 release after updating segment analysis and revising our ’18-’19E modeling. While confident in near-term core CCM margin strength (likely swing to favorable 3Q price/cost), we anticipate sequentially lower volumes (partly influenced by weather), “noise” from one-time expenses, and remain cautious on prospects for sustained rational competition. Our model adjustments primarily relate to 3Q CIT (mix) and CBF (seasonality, restructuring) headwinds, with near-term margin progression likely weaker than previously expected in both segments. Overall, we remain intrigued by CSL’s value-creation potential across segments (enhanced by $1.5B+ in dry powder), but await a better entry point given strong post-1Q share performance (+21% vs. XLI +8%) and potential for downward near-term earnings revisions.”
According to TipRanks.com, Blair is a 3-star analyst with an average return of 6.3% and a 83.3% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.
Carlisle Companies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $137.50, which is a 13.7% upside from current levels. In a report issued on September 24, Longbow Research also maintained a Hold rating on the stock.
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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 400.5K.
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.
