Citigroup Has Lowered Expectations for Curtiss-Wright (NYSE:CW) Stock Price

Key Points

• Citigroup cut its Curtiss-Wright price target from $622 to $505 and maintained a neutral rating; the new target implies 5.55% upside from the prior close.
• Analyst opinion overall remains more positive: Curtiss-Wright has a “Moderate Buy” consensus rating and an average price target of $636.75.
• The company beat quarterly estimates, reporting EPS of $3.94 versus $3.76 expected and revenue of $953 million, up 9.6% year over year.

Curtiss-Wright (NYSE:CW - Get Free Report) had its target price decreased by stock analysts at Citigroup from $622.00 to $505.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the aerospace company's stock. Citigroup's price objective would indicate a potential upside of 5.55% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Morgan Stanley reduced their price objective on Curtiss-Wright from $860.00 to $625.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Guggenheim decreased their target price on Curtiss-Wright from $786.00 to $674.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Weiss Ratings lowered Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $636.75.

Curtiss-Wright Stock Performance

Shares of CW stock traded down $3.60 during trading on Tuesday, reaching $478.43. 111,753 shares of the company's stock were exchanged, compared to its average volume of 326,578. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.67 billion, a PE ratio of 31.93, a PEG ratio of 1.89 and a beta of 0.94. Curtiss-Wright has a twelve month low of $432.70 and a twelve month high of $808.16. The firm's fifty day moving average price is $523.00 and its 200-day moving average price is $662.60.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The aerospace company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.18. Curtiss-Wright had a return on equity of 20.91% and a net margin of 14.86%. The business had revenue of $953.00 million during the quarter, compared to the consensus estimate of $935.09 million. During the same quarter last year, the firm posted $3.31 EPS. The company's quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Curtiss-Wright will post 15.50 EPS for the current year.

Insider Buying and Selling

In related news, Director Larry D. Wyche sold 100 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares in the company, valued at approximately $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John C. Watts sold 1,035 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.51% of the company's stock.

Institutional Trading of Curtiss-Wright

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Curtiss-Wright in the 2nd quarter worth approximately $3,448,649,000. Concurrent Investment Advisors LLC boosted its stake in shares of Curtiss-Wright by 220.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company's stock valued at $2,329,000 after purchasing an additional 2,113 shares during the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of Curtiss-Wright during the second quarter worth $4,737,000. Amundi increased its position in shares of Curtiss-Wright by 47.6% during the second quarter. Amundi now owns 154,668 shares of the aerospace company's stock worth $117,201,000 after buying an additional 49,907 shares during the period. Finally, National Pension Service raised its stake in Curtiss-Wright by 2,974.9% during the second quarter. National Pension Service now owns 63,928 shares of the aerospace company's stock worth $48,442,000 after buying an additional 61,849 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics. The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.

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