Oppenheimer Sticks to Its Hold Rating for Carlisle Companies Inc

In a report released yesterday, Bryan Blair from Oppenheimer maintained a Hold rating on Carlisle Companies Inc (NYSE: CSL). The company’s shares closed on Friday at $108.31.

Blair wrote:

“We attended meetings with CEO Chris Koch and CFO Bob Roche, with topics spanning CCM demand (solid trend into seasonally stronger quarters), CCM pricing (sequential improvement, with increasing confidence in 2H18 traction), CIT and CFT restructuring/margin outlook (guided ’18 exit margins implying strong ’19-’20 upside), and capital allocation strategy (CSL’s balance sheet strength/optionality an underappreciated aspect of the story, in our view). We came away incrementally confident in CSL’s value-creation prospects across segments (even on a macro pullback) and remain intrigued by the stock’s discounted valuation (including an attractive ~6% FCF yield), but await further evidence of stable-to-improving margin/ returns generation in core CCM and CIT to come off the sidelines.”

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carlisle Companies Inc with a $124 average price target.

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Based on Carlisle Companies Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $13.5 million. In comparison, last year the company had a net profit of $101 million.

Based on the recent corporate insider activity of 40 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.

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