In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Woodward (WWD). The company’s shares closed yesterday at $77.25.
Glynn commented:
“WWD posted a significant beat, driven by L’Orange and Aerospace. Industrial core organic growth was 5%, with core OM about 11% vs. 12% compare (but that was the toughest compare over a 10-quarter period before favorable L’Orange impact). The Industrial organic pivot follows ~three years of organic pressure, with only renewables a drag, strong NG bus/truck, distributed power, and data center markets. Industrial OM of 14.9% compares to full-year outlook for 14%: L’Orange features strong December quarter seasonality, while legacy portfolio seasonality can favor upward trend through the year. L’Orange outperformance, suggest some conservatism in maintaining guidance, but it is early FY19 and the guidance was quite strong to start.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.6% and a 57.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Eaton Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Woodward with a $86.80 average price target, representing a 12.4% upside. In a report issued on January 22, Credit Suisse also maintained a Hold rating on the stock with a $82 price target.
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Based on Woodward’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $74.51 million. In comparison, last year the company had a net profit of $18.26 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, Christopher Fawzy, the VP, Gen Counsel & Corp Sec of WWD sold 3,000 shares for a total of $255,000.
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Woodward, Inc. engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the Aerospace and Industrial segment. The Aerospace segment designs, manufactures, and services systems and products for the management of fuel, air, combustion and motion control.
