In a report released yesterday, Bryan Blair from Oppenheimer maintained a Buy rating on Carlisle Companies Incorporated (CSL), with a price target of $140. The company’s shares closed yesterday at $124.09, close to its 52-week high of $129.47.
Blair commented:
“We refreshed analysis across CSL segments and remain highly confident in significantly improved 2019 profitability (EBITDA and EPS projected +21% and +28% y/y, respectively) with accretive capital deployment affording upside to sustained +DD 2020E earnings trajectory. While challenging weather conditions likely impact 1Q19 CCM results (optics worsened by +HSD stacked volume comps), we caution investors not to overemphasize CCM’s seasonally weakest quarter (on average, comprising 13% of full-year profitability over the last decade) and instead focus on the core segment’s favorable 2019-20 setup (very much intact), CIT and CFT’s accelerating self-help stories, and CSL’s compelling earnings/cash generation potential over the coming years. Reiterate Outperform.”
According to TipRanks.com, Blair is a 3-star analyst with an average return of 6.3% and a 64.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Carlisle Companies Incorporated is a Strong Buy with an average price target of $132.40.
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Carlisle Companies Incorporated’s market cap is currently $7.19B and has a P/E ratio of 24.17. The company has a Price to Book ratio of 2.77.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Last month, John Berlin, the President of CSL sold 15,150 shares for a total of $1,882,236.
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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 Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction.
