CIRCOR International (CIR) Price Target Lowered to $48.00 at KeyCorp

CIRCOR International (NYSE:CIR) had its price objective reduced by KeyCorp from $53.00 to $48.00 in a report released on Tuesday morning, The Fly reports. They currently have an overweight rating on the industrial products company’s stock. KeyCorp also issued estimates for CIRCOR International’s Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.10 EPS and FY2019 earnings at $2.70 EPS.

CIR has been the subject of several other reports. Zacks Investment Research cut shares of CIRCOR International from a hold rating to a sell rating in a research note on Tuesday, October 9th. ValuEngine cut shares of CIRCOR International from a sell rating to a strong sell rating in a research note on Friday, October 19th. Finally, Citigroup initiated coverage on shares of CIRCOR International in a research note on Tuesday, August 21st. They set a neutral rating and a $50.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. CIRCOR International currently has a consensus rating of Hold and a consensus target price of $48.80.

NYSE CIR traded down $0.84 on Tuesday, hitting $33.80. 138,962 shares of the company’s stock traded hands, compared to its average volume of 157,119. The company has a current ratio of 2.30, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. CIRCOR International has a 1-year low of $30.73 and a 1-year high of $54.89. The stock has a market cap of $741.95 million, a price-to-earnings ratio of 19.77 and a beta of 2.15.

CIRCOR International (NYSE:CIR) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). CIRCOR International had a negative net margin of 2.22% and a positive return on equity of 6.78%. The business had revenue of $297.50 million for the quarter, compared to analyst estimates of $296.49 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The business’s revenue was up 86.3% on a year-over-year basis. Analysts forecast that CIRCOR International will post 2.13 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of CIR. Glen Harbor Capital Management LLC lifted its stake in shares of CIRCOR International by 78.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 2,948 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 1,298 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of CIRCOR International by 76.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,467 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 1,500 shares during the period. Meadow Creek Investment Management LLC lifted its stake in shares of CIRCOR International by 83.6% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,556 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 2,074 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of CIRCOR International in the 2nd quarter valued at $169,000. Finally, SG Americas Securities LLC acquired a new position in shares of CIRCOR International in the 2nd quarter valued at $215,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.

About CIRCOR International

CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Advanced Flow Solutions, and Fluid Handling. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices, and fluid catalytic converter and isolation valves.

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