Curtiss-Wright (NYSE:CW) Stock Price Target Lowered at Citigroup

Key Points

• Citigroup lowered Curtiss-Wright’s price target to $622 from $793 while maintaining a “neutral” rating, implying 22.42% potential upside. The broader analyst consensus remains “Moderate Buy,” with an average target of $746.88.
• Curtiss-Wright shares fell 8.2% to $508.11, near their 52-week low, and traded below both their 50-day and 200-day moving averages.
• The company exceeded quarterly earnings expectations, reporting $3.72 in EPS versus $3.62 expected, while revenue rose 5.4% year over year to $924.01 million. Institutional investors own 82.71% of the stock, although two company insiders recently sold shares.

Curtiss-Wright (NYSE:CW - Get Free Report) had its price target reduced by investment analysts at Citigroup from $793.00 to $622.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the aerospace company's stock. Citigroup's price target points to a potential upside of 22.42% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reiterated an "overweight" rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a research report on Wednesday, August 12th. Weiss Ratings cut Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. Wall Street Zen lowered shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Stifel Nicolaus upped their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $746.88.

Curtiss-Wright Trading Down 8.2%

Shares of NYSE CW traded down $45.24 during mid-day trading on Wednesday, hitting $508.11. The company's stock had a trading volume of 447,135 shares, compared to its average volume of 313,500. Curtiss-Wright has a one year low of $502.31 and a one year high of $808.16. The company's fifty day simple moving average is $614.29 and its 200-day simple moving average is $689.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. During the same period in the prior year, the business posted $3.23 earnings per share. Curtiss-Wright's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Curtiss-Wright will post 15.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the transaction, the director owned 1,414 shares of the company's stock, 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 available through the SEC website. Also, EVP John Watts sold 1,035 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares of the company's stock, valued at $1,694,842.56. This represents a 27.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Curtiss-Wright

A number of hedge funds and other institutional investors have recently bought and sold shares of CW. Central Pacific Bank Trust Division boosted its position in Curtiss-Wright by 11.8% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,330 shares of the aerospace company's stock worth $723,000 after acquiring an additional 140 shares during the last quarter. QRG Capital Management Inc. grew its position in Curtiss-Wright by 4.0% in the second quarter. QRG Capital Management Inc. now owns 1,336 shares of the aerospace company's stock valued at $1,012,000 after purchasing an additional 51 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Curtiss-Wright by 13.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,097 shares of the aerospace company's stock worth $9,924,000 after buying an additional 1,583 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Curtiss-Wright by 2.4% during the 2nd quarter. Tidal Investments LLC now owns 13,462 shares of the aerospace company's stock worth $10,201,000 after buying an additional 310 shares during the last quarter. Finally, Van Hulzen Asset Management LLC grew its holdings in shares of Curtiss-Wright by 38.1% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 794 shares of the aerospace company's stock valued at $602,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.

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