Esterline Technologies (ESL) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Esterline Technologies (NYSE:ESL) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “Esterline Corporation is a specialized manufacturing company serving principally aerospace and defense markets. Esterline views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit displays and integration systems and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment interconnect solutions, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies including high-performance elastomer products used for a wide range of military and commercial aerospace purposes. “

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ESL has been the topic of several other reports. Credit Suisse Group downgraded Esterline Technologies from a neutral rating to an underperform rating in a research report on Friday, January 12th. Jefferies Group reiterated a hold rating and set a $83.00 target price on shares of Esterline Technologies in a research report on Monday, January 8th. ValuEngine upgraded Esterline Technologies from a hold rating to a buy rating in a report on Sunday, December 31st. Barclays started coverage on Esterline Technologies in a report on Thursday, March 29th. They issued an underweight rating and a $76.00 price objective on the stock. Finally, Bank of America raised their price objective on Esterline Technologies from $70.00 to $75.00 and gave the stock an underperform rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Esterline Technologies currently has an average rating of Hold and an average price target of $79.56.

NYSE ESL opened at $71.00 on Thursday. Esterline Technologies has a twelve month low of $67.15 and a twelve month high of $102.70. The stock has a market cap of $2,110.26, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The company has a current ratio of 3.46, a quick ratio of 2.11 and a debt-to-equity ratio of 0.43.

Esterline Technologies (NYSE:ESL) last released its earnings results on Thursday, February 1st. The aerospace company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Esterline Technologies had a return on equity of 6.89% and a net margin of 3.31%. The firm had revenue of $482.30 million for the quarter, compared to the consensus estimate of $459.38 million. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts anticipate that Esterline Technologies will post 3.81 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in ESL. LSV Asset Management purchased a new position in shares of Esterline Technologies in the 4th quarter worth about $112,000. Dowling & Yahnke LLC purchased a new position in shares of Esterline Technologies in the 4th quarter worth about $217,000. ING Groep NV raised its holdings in shares of Esterline Technologies by 23.2% in the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock worth $297,000 after purchasing an additional 750 shares during the period. Parametrica Management Ltd acquired a new stake in shares of Esterline Technologies in the fourth quarter valued at about $299,000. Finally, Teton Advisors Inc. acquired a new stake in shares of Esterline Technologies in the fourth quarter valued at about $331,000. Institutional investors own 94.98% of the company’s stock.

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About Esterline Technologies

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.

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