Elbit Systems (NASDAQ:ESLT) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage of Elbit Systems (NASDAQ:ESLT), assigning a "neutral" rating with a price target of $520.00, indicating a potential upside of 4.45% from its current price.
• Other brokerages have recently upgraded Elbit Systems, with Wall Street Zen moving its rating from "hold" to "buy" and Bank of America increasing its target price from $500.00 to $540.00, reflecting a consensus rating of "Moderate Buy".
• Elbit Systems reported Q2 earnings of $3.23 per share, surpassing estimates, with revenues of $1.97 billion, which also exceeded analyst expectations of $1.89 billion.

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Elbit Systems (NASDAQ:ESLT - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The firm set a "neutral" rating and a $520.00 price target on the aerospace company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 4.45% from the stock's current price.

Several other brokerages have also recently weighed in on ESLT. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Bank of America increased their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $530.00.

Elbit Systems Price Performance

Shares of ESLT opened at $497.85 on Tuesday. The company has a 50 day moving average price of $475.22 and a 200-day moving average price of $432.77. Elbit Systems has a fifty-two week low of $197.95 and a fifty-two week high of $510.58. The stock has a market capitalization of $22.13 billion, a PE ratio of 56.51, a PEG ratio of 1.75 and a beta of 0.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Equities analysts predict that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Institutional Trading of Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in ESLT. Squarepoint Ops LLC increased its stake in shares of Elbit Systems by 105.8% in the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company's stock worth $209,000 after acquiring an additional 14,796 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Elbit Systems by 1.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company's stock worth $1,031,000 after acquiring an additional 69 shares during the period. Mackenzie Financial Corp increased its stake in shares of Elbit Systems by 16.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the aerospace company's stock worth $455,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC increased its stake in shares of Elbit Systems by 38,268.4% in the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company's stock worth $2,797,000 after acquiring an additional 7,271 shares during the period. Finally, Yousif Capital Management LLC acquired a new stake in Elbit Systems during the first quarter valued at $262,000. Institutional investors and hedge funds own 17.88% of the company's stock.

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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