Woodward, Inc. (WWD) Receives New Coverage from Analysts at CIBC

CIBC started coverage on shares of Woodward, Inc. (NASDAQ:WWD) in a research note issued to investors on Friday. The firm issued an outperform rating and a $82.00 price target on the technology company’s stock.

A number of other research firms also recently issued reports on WWD. Wood & Company started coverage on shares of Woodward in a report on Thursday. They issued an outperform rating and a $82.00 target price for the company. Stephens began coverage on shares of Woodward in a research note on Thursday, April 13th. They set an overweight rating and a $82.00 price objective for the company. BidaskClub downgraded shares of Woodward from a buy rating to a hold rating in a research note on Tuesday, June 20th. Cowen and Company reiterated a market perform rating and set a $62.00 price objective (up from $58.00) on shares of Woodward in a research note on Friday, April 21st. Finally, Zacks Investment Research upgraded shares of Woodward from a sell rating to a hold rating in a research note on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Woodward currently has a consensus rating of Hold and an average price target of $74.11.

Woodward (NASDAQ:WWD) traded down 1.22% during midday trading on Friday, reaching $68.71. 269,789 shares of the company’s stock were exchanged. Woodward has a 52 week low of $57.02 and a 52 week high of $72.28. The stock’s 50 day moving average is $68.38 and its 200 day moving average is $68.82. The firm has a market capitalization of $4.21 billion, a P/E ratio of 21.94 and a beta of 1.20.

Woodward (NASDAQ:WWD) last released its earnings results on Wednesday, April 19th. The technology company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.06. Woodward had a net margin of 9.74% and a return on equity of 16.41%. The company had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $498.56 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Woodward’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts expect that Woodward will post $3.11 EPS for the current fiscal year.

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In other news, Director Mary L. Petrovich bought 7,300 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was acquired at an average cost of $68.35 per share, for a total transaction of $498,955.00. Following the completion of the purchase, the director now owns 22,204 shares of the company’s stock, valued at $1,517,643.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert F. Weber, Jr. sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $66.49, for a total transaction of $498,675.00. Following the completion of the transaction, the chief financial officer now owns 34,053 shares of the company’s stock, valued at $2,264,183.97. The disclosure for this sale can be found here. 5.93% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. World Asset Management Inc increased its position in shares of Woodward by 0.9% in the first quarter. World Asset Management Inc now owns 3,371 shares of the technology company’s stock valued at $229,000 after buying an additional 30 shares during the period. Whittier Trust Co. increased its position in shares of Woodward by 2.8% in the first quarter. Whittier Trust Co. now owns 4,626 shares of the technology company’s stock valued at $315,000 after buying an additional 126 shares during the period. Advantus Capital Management Inc increased its position in shares of Woodward by 2.7% in the first quarter. Advantus Capital Management Inc now owns 7,080 shares of the technology company’s stock valued at $481,000 after buying an additional 187 shares during the period. State Treasurer State of Michigan increased its position in shares of Woodward by 0.9% in the first quarter. State Treasurer State of Michigan now owns 22,500 shares of the technology company’s stock valued at $1,528,000 after buying an additional 200 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of Woodward by 0.9% in the first quarter. Mason Street Advisors LLC now owns 26,123 shares of the technology company’s stock valued at $1,774,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 70.33% of the company’s stock.

Woodward Company Profile

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

Analyst Recommendations for Woodward (NASDAQ:WWD)

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