Zacks Investment Research Lowers CIRCOR International (NYSE:CIR) to Sell

Zacks Investment Research cut shares of CIRCOR International (NYSE:CIR) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “

Shares of CIR opened at $30.49 on Wednesday. The business’s 50 day moving average is $32.97 and its two-hundred day moving average is $33.69. CIRCOR International has a 52-week low of $26.54 and a 52-week high of $43.20. The firm has a market cap of $617.51 million, a price-to-earnings ratio of -6.42 and a beta of 2.66. The company has a quick ratio of 1.64, a current ratio of 2.43 and a debt-to-equity ratio of 2.80.

CIRCOR International (NYSE:CIR) last announced its earnings results on Monday, August 9th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. CIRCOR International had a positive return on equity of 16.23% and a negative net margin of 12.42%. The company had revenue of $190.35 million for the quarter, compared to analyst estimates of $188.55 million. On average, equities analysts expect that CIRCOR International will post 2.18 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Bellwether Advisors LLC acquired a new stake in shares of CIRCOR International during the 2nd quarter valued at approximately $32,000. First Mercantile Trust Co. bought a new position in CIRCOR International during the 1st quarter worth $116,000. Teachers Retirement System of The State of Kentucky grew its stake in CIRCOR International by 63.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,642 shares of the industrial products company’s stock worth $196,000 after buying an additional 2,200 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in CIRCOR International by 104,233.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,260 shares of the industrial products company’s stock worth $204,000 after buying an additional 6,254 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in CIRCOR International during the 1st quarter worth $223,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About CIRCOR International

CIRCOR International, Inc engages in the provision of mission-critical flow control products and services for the Industrial and Aerospace & Defense markets. It operates through the following segments: Aerospace & Defense, and Industrial. The Aerospace and Defense segment is a diversified flow control technology platform.

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