In a report released today, Peter Skibitski from Alembic Global downgraded Esterline Techs (NYSE: ESL) to Hold. The company’s shares closed yesterday at $115.41, close to its 52-week high of $116.
Skibitski noted:
“We are lowering our rating given that we do not expect a higher bid.”
According to TipRanks.com, Skibitski is a 4-star analyst with an average return of 18.4% and a 76.0% success rate. Skibitski covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, L3 Technologies Inc, and Huntington Ingalls.
Currently, the analyst consensus on Esterline Techs is a Hold with an average price target of $97.25, implying a -15.7% downside from current levels. In a report released yesterday, Credit Suisse also upgraded the stock to Hold with a $122 price target.
.
See today’s analyst top recommended stocks >>
Based on Esterline Techs’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $27.82 million. In comparison, last year the company had a net profit of $29.78 million.
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.
Esterline Technologies Corp. engages in the manufacture of aircraft parts and components, automated drilling products and machine tool systems. It operates through the following segments: Avionics & Controls; Sensors & Systems; and Advanced Materials.
