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

Key Points

• Elbit Systems has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, indicative of a shift in analyst sentiments regarding the stock.
• Bank of America recently raised its price target for Elbit Systems from $500.00 to $540.00, maintaining a "buy" rating despite the downgrade from Wall Street Zen.
• Elbit Systems reported $3.23 EPS for its last quarter, exceeding analyst expectations of $2.57 EPS, marking a substantial year-over-year increase.

Elbit Systems (NASDAQ:ESLT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

A number of other brokerages have also recently issued reports on ESLT. JPMorgan Chase & Co. assumed coverage on Elbit Systems in a report on Tuesday. They issued a "neutral" rating and a $520.00 target price on the stock. Bank of America lifted their price target on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Elbit Systems in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $530.00.

Elbit Systems Price Performance

Elbit Systems stock traded up $6.97 during midday trading on Friday, hitting $514.99. The company's stock had a trading volume of 128,552 shares, compared to its average volume of 114,041. Elbit Systems has a 12 month low of $201.25 and a 12 month high of $527.29. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $22.89 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 1.81 and a beta of 0.33. The stock's 50-day moving average price is $480.26 and its 200-day moving average price is $435.49.

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

Institutional Investors Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new stake in shares of Elbit Systems in the 2nd quarter valued at approximately $28,000. Larson Financial Group LLC bought a new stake in Elbit Systems in the first quarter worth approximately $29,000. Traub Capital Management LLC bought a new stake in Elbit Systems in the second quarter worth approximately $31,000. SBI Securities Co. Ltd. increased its position in Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after buying an additional 107 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of Elbit Systems during the 2nd quarter worth about $68,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.