Carlisle Companies (NYSE:CSL) Given New $410.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. lowered its price target for Carlisle Companies from $480.00 to $410.00, while maintaining an "overweight" rating on the stock, suggesting a potential upside of 20.36% from the last closing price.
• Loop Capital downgraded Carlisle Companies from a "buy" to a "hold" rating, reducing their price objective from $430.00 to $395.00, indicating shifting analyst sentiment regarding the company's stock performance.
• Carlisle Companies reported earnings of $6.27 per share, falling short of the expected $6.67, with revenues slightly down year-over-year and a consensus rating of "Moderate Buy" among analysts.

Carlisle Companies (NYSE:CSL - Free Report) had its price objective decreased by JPMorgan Chase & Co. from $480.00 to $410.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the conglomerate's stock.

Separately, Loop Capital lowered Carlisle Companies from a "buy" rating to a "hold" rating and dropped their price target for the stock from $430.00 to $395.00 in a research report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Carlisle Companies has a consensus rating of "Moderate Buy" and a consensus price target of $435.83.

Carlisle Companies Price Performance

Shares of CSL stock traded up $6.44 during trading hours on Wednesday, hitting $337.94. The stock had a trading volume of 1,418,604 shares, compared to its average volume of 490,266. Carlisle Companies has a one year low of $311.41 and a one year high of $481.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.19 and a quick ratio of 1.47. The stock's 50-day moving average price is $384.90 and its two-hundred day moving average price is $373.37. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.09 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $6.27 EPS for the quarter, missing the consensus estimate of $6.67 by ($0.40). The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The company's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.24 EPS. Equities analysts forecast that Carlisle Companies will post 22.31 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. Carlisle Companies's dividend payout ratio is currently 24.58%.

Institutional Investors Weigh In On Carlisle Companies

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Carlisle Companies by 38,164.5% in the 1st quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after buying an additional 505,680 shares in the last quarter. Sands Capital Management LLC purchased a new position in Carlisle Companies in the 2nd quarter valued at about $159,203,000. JPMorgan Chase & Co. raised its holdings in Carlisle Companies by 33.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,437,703 shares of the conglomerate's stock valued at $536,842,000 after acquiring an additional 358,241 shares during the last quarter. Norges Bank acquired a new stake in Carlisle Companies in the 2nd quarter valued at about $128,856,000. Finally, Cooke & Bieler LP acquired a new stake in shares of Carlisle Companies during the 1st quarter worth approximately $74,095,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

About Carlisle Companies

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.