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

Key Points

• Elbit Systems has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting improved confidence in the stock's performance.
• The stock currently has a consensus rating of "Moderate Buy" and a price target of $530.00, based on multiple analyst reports.
• Elbit Systems reported $3.23 earnings per share, exceeding analyst expectations, with total revenue of $1.97 billion for the quarter.

Elbit Systems (NASDAQ:ESLT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

ESLT has been the subject of several other research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Elbit Systems in a report on Friday. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price objective for the company. Zacks Research upgraded Elbit Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 14th. Finally, Bank of America increased their price objective on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $530.00.

Elbit Systems Stock Up 0.7%

Shares of NASDAQ ESLT opened at $491.71 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $21.86 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 1.78 and a beta of 0.33. The stock's fifty day simple moving average is $491.74 and its two-hundred day simple moving average is $446.89. Elbit Systems has a 12-month low of $208.53 and a 12-month high of $529.99.

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

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESLT. Y.D. More Investments Ltd raised its stake in Elbit Systems by 35.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company's stock worth $271,438,000 after acquiring an additional 158,689 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Elbit Systems by 226.6% in the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company's stock worth $87,006,000 after buying an additional 134,300 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Elbit Systems by 27.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company's stock worth $210,967,000 after acquiring an additional 101,083 shares during the period. Meitav Investment House Ltd. grew its holdings in Elbit Systems by 27.7% during the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company's stock worth $168,600,000 after acquiring an additional 82,103 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Elbit Systems by 74.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company's stock worth $78,084,000 after acquiring an additional 74,754 shares during the period. 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.

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