Elbit Systems (NASDAQ:ESLT) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Elbit Systems (NASDAQ:ESLT - Get Free Report) in a research note issued on Thursday, Marketbeat reports. The firm set a "buy" rating and a $500.00 price target on the aerospace company's stock. Bank of America's price target points to a potential upside of 10.97% from the company's current price.

Separately, Wall Street Zen upgraded Elbit Systems from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 22nd.

Elbit Systems Price Performance

ESLT stock traded up $4.60 during midday trading on Thursday, reaching $450.57. 40,570 shares of the stock were exchanged, compared to its average volume of 100,562. The stock has a market capitalization of $20.03 billion, a PE ratio of 57.18 and a beta of 0.33. Elbit Systems has a 52 week low of $177.85 and a 52 week high of $476.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70. The company has a fifty day moving average price of $424.76 and a 200 day moving average price of $374.71.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same quarter in the previous year, the company posted $1.81 EPS. As a group, analysts expect that Elbit Systems will post 8.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its stake in shares of Elbit Systems by 8.6% in the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock valued at $151,000 after purchasing an additional 31 shares during the period. Townsquare Capital LLC raised its stake in Elbit Systems by 5.3% during the 1st quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company's stock worth $337,000 after buying an additional 44 shares during the period. Janney Montgomery Scott LLC raised its stake in Elbit Systems by 8.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 647 shares of the aerospace company's stock worth $291,000 after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC raised its stake in Elbit Systems by 3.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock worth $575,000 after buying an additional 55 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in Elbit Systems by 2.9% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock worth $540,000 after buying an additional 60 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.

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