Oppenheimer analyst Bryan Blair maintained a Buy rating on Carlisle Companies Incorporated (CSL) today and set a price target of $150. The company’s shares closed yesterday at $128.43, close to its 52-week high of $129.47.
Blair noted:
“CSL reported 1Q19 EPS of $1.33, easily beating our/consensus $1.12/1.10E on CCM and CIT outperformance (together driving the majority of 21% y/y operating profit growth) and favorable below-the-line items. 1Q marked CSL’s 24th consecutive quarter of y/y revenue growth with clear operating momentum entering the seasonally strong 2Q-3Q period. Importantly, 2019 CCM sales guidance was raised to +LDD (from +HSD/LDD), evidencing continued demand strength for CSL’s key platform. Adding significantly favorable (“high end” of +$40-50M) CCM price/cost this year, robust CIT demand with runway, self-help margin progression across segments, and plentiful (>$1.5B) dry powder, we view CSL as extremely well positioned for outsized earnings and cash flow growth over 2019-20. Reiterate Outperform.”
According to TipRanks.com, Blair is a 4-star analyst with an average return of 9.8% and a 75.0% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carlisle Companies Incorporated with a $134.25 average price target, representing a 4.5% upside. In a report issued on April 9, Robert W. Baird also maintained a Buy rating on the stock with a $134 price target.
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The company has a one-year high of $129.47 and a one-year low of $92.16. Currently, Carlisle Companies Incorporated has an average volume of 401K.
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
