Curtiss-Wright (NYSE:CW) Rating Increased to Strong-Buy at Guggenheim

Key Points

• Guggenheim upgraded Curtiss-Wright to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $768.25.
• Curtiss-Wright reported quarterly EPS of $3.72, exceeding estimates by $0.10, while revenue rose 5.4% year over year to $924.01 million, slightly below expectations.
• Shares opened at $570.76, well below their 12-month high of $808.16. Institutional investors own 82.71% of the stock, while recent insider transactions included sales by a director and an executive vice president.

Curtiss-Wright (NYSE:CW - Get Free Report) was upgraded by Guggenheim to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

CW has been the subject of several other reports. Weiss Ratings downgraded shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on shares of Curtiss-Wright in a report on Wednesday, August 12th. Citigroup boosted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Piper Sandler began coverage on shares of Curtiss-Wright in a report on Wednesday, September 2nd. They set a "neutral" rating and a $665.00 price target for the company. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $860.00 price target on shares of Curtiss-Wright in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $768.25.

Curtiss-Wright Stock Up 1.4%

Shares of CW stock opened at $570.76 on Monday. The stock's 50 day simple moving average is $667.17 and its 200 day simple moving average is $704.02. Curtiss-Wright has a twelve month low of $490.66 and a twelve month high of $808.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 2.54 and a beta of 0.84.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. During the same quarter in the prior year, the business earned $3.23 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that Curtiss-Wright will post 15.27 EPS for the current year.

Insider Transactions at Curtiss-Wright

In related news, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director owned 1,414 shares in the company, valued at approximately $843,790.36. This trade represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Watts sold 1,035 shares of Curtiss-Wright stock in a transaction dated 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 approximately $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Curtiss-Wright

A number of institutional investors and hedge funds have recently modified their holdings of CW. BlackRock Inc. acquired a new position in Curtiss-Wright in the second quarter worth about $3,448,649,000. Norges Bank bought a new position in Curtiss-Wright during the fourth quarter worth about $290,633,000. Primecap Management Co. CA acquired a new stake in Curtiss-Wright during the second quarter valued at approximately $390,106,000. Bank of New York Mellon Corp acquired a new stake in Curtiss-Wright during the second quarter valued at approximately $270,458,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at approximately $240,442,000. 82.71% of the stock is currently owned by institutional investors.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.

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