Carlisle Companies (NYSE:CSL) Price Target Lowered to $420.00 at Oppenheimer

Key Points

• Oppenheimer cut its price target on Carlisle from $435 to $420 but kept an "outperform" rating, implying about a 15.9% upside from the current share price.
• Analyst coverage is mixed — four Buy and six Hold ratings result in a consensus rating of Hold with a consensus target of $393.67.
• There has been notable insider selling

Carlisle Companies (NYSE:CSL - Get Free Report) had its price target lowered by Oppenheimer from $435.00 to $420.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the conglomerate's stock. Oppenheimer's price objective would indicate a potential upside of 15.87% from the stock's current price.

CSL has been the subject of several other research reports. Weiss Ratings restated a "hold (c)" rating on shares of Carlisle Companies in a research note on Friday, March 27th. William Blair restated a "market perform" rating on shares of Carlisle Companies in a research note on Wednesday, March 18th. Robert W. Baird lowered their price target on Carlisle Companies from $420.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on Carlisle Companies from $400.00 to $420.00 and gave the company an "overweight" rating in a report on Monday, March 9th. Finally, Zacks Research raised Carlisle Companies from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Carlisle Companies currently has an average rating of "Hold" and a consensus target price of $393.67.

Carlisle Companies Stock Performance

Shares of CSL stock traded up $0.79 on Monday, hitting $362.49. 102,297 shares of the stock were exchanged, compared to its average volume of 439,397. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $14.82 billion, a PE ratio of 21.16, a P/E/G ratio of 1.16 and a beta of 0.95. Carlisle Companies has a one year low of $293.43 and a one year high of $435.92. The firm's 50 day moving average is $364.63 and its two-hundred day moving average is $343.88.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The conglomerate reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.30. Carlisle Companies had a return on equity of 41.58% and a net margin of 14.76%.The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $4.47 EPS. The firm's quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts expect that Carlisle Companies will post 22.31 earnings per share for the current fiscal year.

Insider Transactions at Carlisle Companies

In related news, VP David W. Smith sold 1,800 shares of Carlisle Companies stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $414.05, for a total value of $745,290.00. Following the completion of the sale, the vice president owned 3,697 shares of the company's stock, valued at $1,530,742.85. The trade was a 32.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin P. Zdimal sold 24,180 shares of Carlisle Companies stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $408.04, for a total value of $9,866,407.20. Following the completion of the sale, the chief financial officer directly owned 30,094 shares of the company's stock, valued at $12,279,555.76. The trade was a 44.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 68,289 shares of company stock worth $28,125,467. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Carlisle Companies

Large investors have recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Carlisle Companies during the fourth quarter valued at about $27,000. Osterweis Capital Management Inc. bought a new stake in Carlisle Companies during the second quarter valued at about $36,000. Torren Management LLC bought a new stake in Carlisle Companies during the fourth quarter valued at about $33,000. SBI Securities Co. Ltd. grew its holdings in Carlisle Companies by 43.0% during the third quarter. SBI Securities Co. Ltd. now owns 113 shares of the conglomerate's stock valued at $37,000 after purchasing an additional 34 shares during the period. Finally, Quarry LP bought a new stake in Carlisle Companies during the fourth quarter valued at about $36,000. Institutional investors own 89.52% of the company's stock.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.

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