Carlisle Companies (NYSE:CSL) Issues Quarterly Earnings Results, Beats Expectations By $0.68 EPS

Carlisle Companies (NYSE:CSL) posted its quarterly earnings data on Wednesday. The conglomerate reported $7.03 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.68, FiscalAI reports. Carlisle Companies had a return on equity of 43.78% and a net margin of 14.57%.

Carlisle Companies Stock Down 3.8%

NYSE:CSL traded down $13.05 during trading hours on Wednesday, hitting $334.67. 1,107,246 shares of the company traded hands, compared to its average volume of 452,537. Carlisle Companies has a one year low of $293.43 and a one year high of $432.91. The company has a quick ratio of 2.58, a current ratio of 3.38 and a debt-to-equity ratio of 1.74. The firm’s 50-day simple moving average is $347.17 and its 200-day simple moving average is $356.02. The company has a market cap of $13.54 billion, a PE ratio of 19.68, a PEG ratio of 1.08 and a beta of 0.85.

Hedge Funds Weigh In On Carlisle Companies

Several hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of Carlisle Companies in the fourth quarter valued at approximately $36,000. Osterweis Capital Management Inc. purchased a new position in Carlisle Companies in the second quarter worth $36,000. EFG International AG purchased a new position in Carlisle Companies in the fourth quarter worth $39,000. Measured Wealth Private Client Group LLC bought a new position in Carlisle Companies in the 3rd quarter valued at $43,000. Finally, Global Retirement Partners LLC increased its position in shares of Carlisle Companies by 550.0% during the 4th quarter. Global Retirement Partners LLC now owns 156 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CSL shares. Raymond James Financial began coverage on Carlisle Companies in a research note on Monday, April 27th. They set an “outperform” rating and a $425.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Carlisle Companies in a research note on Wednesday, June 24th. Robert W. Baird decreased their price target on Carlisle Companies from $425.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Oppenheimer lifted their price objective on shares of Carlisle Companies from $420.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Truist Financial reduced their price target on shares of Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $399.29.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company’s operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.