Curtiss-Wright (NYSE:CW) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Curtiss-Wright (NYSE:CW) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $139.00 price target on the aerospace company’s stock.

According to Zacks, “Curtiss-Wright looks ahead to benefit from increasing trade activity and rising need for replacing aging fleet with new jets in the commercial aerospace market. According to the Nuclear Regulatory Commission (NRC), nuclear power comprises approximately 20% of all the electric power produced in the United States. This leaves ample scope for increased nuclear power adoption worldwide, which in turn, should boost Curtiss-Wright’s power segment that serves the nuclear power market. However, stringent regulations and rising competition from renewable sources are posing as a serious challenge for the company. Further, cost reduction remains a major challenge for the companies that operate in nuclear power market like Curtiss-Wright. Its share price underperformed the industry in the past twelve months.”

A number of other research analysts also recently issued reports on CW. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $138.00 to $147.00 and gave the stock a buy rating in a research note on Monday, July 15th. ValuEngine raised shares of Curtiss-Wright from a sell rating to a hold rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $141.80.

Shares of Curtiss-Wright stock opened at $132.48 on Wednesday. Curtiss-Wright has a 52-week low of $95.23 and a 52-week high of $141.29. The company has a 50 day moving average of $123.56 and a 200 day moving average of $118.92. The company has a quick ratio of 1.41, a current ratio of 2.10 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $5.62 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.24 and a beta of 1.20.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, July 31st. The aerospace company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.13. Curtiss-Wright had a net margin of 11.90% and a return on equity of 18.54%. The company had revenue of $639.00 million during the quarter, compared to the consensus estimate of $642.66 million. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that Curtiss-Wright will post 7.12 earnings per share for the current fiscal year.

The business also recently disclosed a — dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, October 2nd. This represents a yield of 0.5%. Curtiss-Wright’s payout ratio is currently 10.68%.

In other news, Director S Marce Fuller sold 1,000 shares of Curtiss-Wright stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $122.90, for a total value of $122,900.00. Following the transaction, the director now directly owns 10,222 shares of the company’s stock, valued at approximately $1,256,283.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn E. Tynan sold 10,000 shares of Curtiss-Wright stock in a transaction on Monday, September 9th. The shares were sold at an average price of $128.14, for a total transaction of $1,281,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,047 shares of company stock worth $4,033,042. 0.90% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CW. Aviva PLC purchased a new position in Curtiss-Wright in the 2nd quarter valued at $1,213,000. DekaBank Deutsche Girozentrale purchased a new position in Curtiss-Wright in the 2nd quarter valued at $35,000. Cerebellum GP LLC grew its position in Curtiss-Wright by 99.9% in the 1st quarter. Cerebellum GP LLC now owns 2,649 shares of the aerospace company’s stock valued at $300,000 after buying an additional 1,324 shares during the last quarter. Bingham Osborn & Scarborough LLC purchased a new position in Curtiss-Wright in the 2nd quarter valued at $215,000. Finally, Advisory Services Network LLC grew its position in Curtiss-Wright by 14.0% in the 2nd quarter. Advisory Services Network LLC now owns 815 shares of the aerospace company’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. 77.91% of the stock is currently owned by institutional investors and hedge funds.

About Curtiss-Wright

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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