Curtiss-Wright (CW) Upgraded to “Buy” by Zacks Investment Research

Curtiss-Wright (NYSE:CW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $121.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.89% from the stock’s previous close.

According to Zacks, “Rising trade activities along with increasing need for replacing aging fleet with new airplanes has been fueling the Curtiss-Wright’s commercial aerospace business. As of Dec 2017, there are approximately 57 new reactors under construction across 15 countries, with approximately 158 planned and 351 proposed over the next several decades. This should provide ample growth opportunities for Curtiss-Wright in the commercial nuclear market. It also expects to supply a variety of ancillary plant products and services to this plant, thereby reflecting solid demand for its power segment’s products. However, cheap gas price has forced a number of nuclear plants to shut down in the United States. The company also underperformed its industry in the last one year.”

CW has been the subject of several other reports. SunTrust Banks cut their price target on Curtiss-Wright to $148.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. UBS Group initiated coverage on Curtiss-Wright in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $140.00 price target for the company. Stifel Nicolaus set a $120.00 price target on Curtiss-Wright and gave the company a “hold” rating in a research note on Thursday, November 1st. Bank of America cut their price target on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Curtiss-Wright in a research note on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Curtiss-Wright has a consensus rating of “Buy” and a consensus target price of $134.67.

Shares of Curtiss-Wright stock traded down $0.41 on Monday, hitting $107.18. The stock had a trading volume of 9,591 shares, compared to its average volume of 228,359. Curtiss-Wright has a twelve month low of $103.43 and a twelve month high of $143.38. The company has a current ratio of 2.25, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.29 and a beta of 1.40.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Tuesday, October 30th. The aerospace company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.58 by $0.12. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The company had revenue of $595.40 million for the quarter, compared to the consensus estimate of $628.27 million. During the same quarter in the prior year, the business earned $1.43 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Curtiss-Wright will post 6.23 earnings per share for the current fiscal year.

In other Curtiss-Wright news, Director Bruce D. Hoechner bought 470 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was purchased at an average cost of $107.16 per share, for a total transaction of $50,365.20. Following the completion of the purchase, the director now directly owns 887 shares of the company’s stock, valued at $95,050.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CW. Principal Financial Group Inc. lifted its stake in shares of Curtiss-Wright by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 194,841 shares of the aerospace company’s stock valued at $26,317,000 after acquiring an additional 4,816 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Curtiss-Wright by 19.7% in the 2nd quarter. Bank of Montreal Can now owns 32,155 shares of the aerospace company’s stock valued at $3,827,000 after acquiring an additional 5,283 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Curtiss-Wright by 41.1% in the 2nd quarter. Amalgamated Bank now owns 8,938 shares of the aerospace company’s stock valued at $1,064,000 after acquiring an additional 2,603 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Curtiss-Wright in the 2nd quarter valued at $211,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Curtiss-Wright by 409.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,312 shares of the aerospace company’s stock valued at $394,000 after acquiring an additional 2,662 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.

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