Elbit Systems (NASDAQ:ESLT) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Elbit Systems from “Buy” to “Hold.” Other analysts have also adopted neutral views, with five Hold ratings and a consensus price target of $870.
• Elbit Systems shares opened at $703.28, below their 50-day and 200-day moving averages, while trading between a 52-week range of $453.00 and $1,016.06.
• The company exceeded quarterly expectations, reporting $4.14 in EPS versus a $3.69 estimate and $2.29 billion in revenue versus a $2.25 billion consensus forecast.

Elbit Systems (NASDAQ:ESLT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on the stock. Weiss Ratings cut shares of Elbit Systems from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 26th. Jefferies Financial Group lowered their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. dropped their target price on shares of Elbit Systems from $950.00 to $885.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 19th. Zacks Research lowered shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a research note on Wednesday, July 15th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $870.00.

Elbit Systems Price Performance

Shares of ESLT stock opened at $703.28 on Friday. The stock has a 50 day moving average price of $770.69 and a 200 day moving average price of $813.37. Elbit Systems has a 52-week low of $453.00 and a 52-week high of $1,016.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39. The firm has a market capitalization of $31.26 billion, a P/E ratio of 53.00, a P/E/G ratio of 2.92 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.69 by $0.45. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%.The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. As a group, sell-side analysts predict that Elbit Systems will post 15.61 earnings per share for the current year.

Institutional Investors Weigh In On Elbit Systems

Large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Elbit Systems by 98.9% during the first quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company's stock valued at $946,000 after purchasing an additional 1,225 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Elbit Systems during the first quarter worth $353,000. NewEdge Advisors LLC lifted its holdings in Elbit Systems by 3,461.1% during the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company's stock worth $246,000 after buying an additional 623 shares during the period. Goldman Sachs Group Inc. boosted its position in Elbit Systems by 33.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company's stock valued at $51,837,000 after acquiring an additional 34,049 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Elbit Systems by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company's stock valued at $6,339,000 after acquiring an additional 1,191 shares in the last quarter. Institutional investors own 17.88% of the company's stock.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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