ESCO Technologies (NYSE:ESE) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• ESCO Technologies has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a more cautious approach from analysts regarding the stock's future performance.
• Despite the downgrade, Benchmark has raised its price target for ESCO Technologies from $190.00 to $200.00 while maintaining a "buy" rating.
• In its recent earnings report, ESCO Technologies missed EPS estimates, reporting $1.60 compared to the expected $1.65, with revenues of $296.34 million versus expectations of $320.23 million.

Wall Street Zen downgraded shares of ESCO Technologies (NYSE:ESE - Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Benchmark increased their target price on shares of ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

ESCO Technologies Price Performance

ESCO Technologies stock traded up $0.81 during trading hours on Friday, hitting $194.07. 266,146 shares of the stock were exchanged, compared to its average volume of 164,479. ESCO Technologies has a 12 month low of $113.30 and a 12 month high of $198.34. The business's 50-day moving average is $189.35 and its two-hundred day moving average is $169.71. The stock has a market capitalization of $5.01 billion, a P/E ratio of 43.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.52.

ESCO Technologies (NYSE:ESE - Get Free Report) last announced its earnings results on Thursday, August 7th. The scientific and technical instruments company reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.05). ESCO Technologies had a return on equity of 11.19% and a net margin of 10.37%. The company had revenue of $296.34 million for the quarter, compared to analyst estimates of $320.23 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. ESCO Technologies's revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts expect that ESCO Technologies will post 5.65 EPS for the current fiscal year.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. ESCO Technologies's payout ratio is 7.21%.

Institutional Investors Weigh In On ESCO Technologies

Several hedge funds have recently added to or reduced their stakes in ESE. Opal Wealth Advisors LLC acquired a new position in shares of ESCO Technologies during the 1st quarter valued at $35,000. CX Institutional acquired a new position in shares of ESCO Technologies during the 1st quarter valued at $36,000. TD Private Client Wealth LLC bought a new stake in ESCO Technologies during the 1st quarter valued at $38,000. Harbor Investment Advisory LLC bought a new stake in ESCO Technologies during the 2nd quarter valued at $38,000. Finally, Maseco LLP bought a new stake in ESCO Technologies during the 2nd quarter valued at $45,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

About ESCO Technologies

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.