Esterline Technologies Corporation (NYSE:ESL) Downgraded by Goldman Sachs Group, Inc. (The)

Esterline Technologies Corporation (NYSE:ESL) was downgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a research note issued on Thursday, The Fly reports.

Several other equities research analysts have also issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and set a $90.00 target price (down from $92.00) on shares of Esterline Technologies Corporation in a research note on Wednesday. Canaccord Genuity increased their target price on shares of Esterline Technologies Corporation from $90.00 to $92.00 and gave the stock a “hold” rating in a research note on Friday, August 4th. Credit Suisse Group lowered shares of Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Friday, August 4th. BidaskClub upgraded shares of Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Esterline Technologies Corporation has a consensus rating of “Hold” and an average target price of $96.00.

Shares of Esterline Technologies Corporation (NYSE:ESL) opened at 87.60 on Thursday. The firm’s 50-day moving average price is $95.53 and its 200-day moving average price is $91.59. The company has a market capitalization of $2.61 billion, a PE ratio of 19.60 and a beta of 1.43. Esterline Technologies Corporation has a 12-month low of $69.55 and a 12-month high of $102.70.

Esterline Technologies Corporation (NYSE:ESL) last posted its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by $0.22. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The firm had revenue of $503.80 million for the quarter, compared to analysts’ expectations of $522.38 million. During the same period in the previous year, the company earned $1.38 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. On average, analysts expect that Esterline Technologies Corporation will post $4.71 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/2797762/esterline-technologies-corporation-nyseesl-downgraded-by-goldman-sachs-group-inc-the.html.

In related news, EVP Albert S. Yost sold 6,700 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $92.61, for a total transaction of $620,487.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $96.50, for a total transaction of $749,805.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,170 shares of company stock valued at $3,865,674. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Esterline Technologies Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock valued at $112,000 after buying an additional 120 shares during the period. Pacad Investment Ltd. increased its stake in Esterline Technologies Corporation by 100.0% in the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock worth $171,000 after buying an additional 900 shares during the last quarter. LS Investment Advisors LLC increased its stake in Esterline Technologies Corporation by 2.9% in the first quarter. LS Investment Advisors LLC now owns 2,104 shares of the aerospace company’s stock worth $181,000 after buying an additional 60 shares during the last quarter. Invictus RG increased its stake in Esterline Technologies Corporation by 66.3% in the first quarter. Invictus RG now owns 2,252 shares of the aerospace company’s stock worth $194,000 after buying an additional 898 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Esterline Technologies Corporation during the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.

About Esterline Technologies Corporation

Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.

The Fly

Analyst Recommendations for Esterline Technologies Corporation (NYSE:ESL)

Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.