JPMorgan Chase & Co. Cuts Elbit Systems (NASDAQ:ESLT) Price Target to $885.00

Key Points

• JPMorgan cut Elbit Systems’ price target from $950 to $885 while maintaining a “neutral” rating, implying 17.27% upside from the prior close.
• Analyst sentiment remains cautious: Elbit has a consensus “Hold” rating from MarketBeat, with one Buy and five Hold ratings and an average price target of $787.50.
• Shares fell 5.2% to $754.66, despite the company reporting quarterly EPS of $4.14—above the $3.69 consensus—and revenue of $2.29 billion, also ahead of estimates.

Elbit Systems (NASDAQ:ESLT - Get Free Report) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $950.00 to $885.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 17.27% from the company's previous close.

A number of other equities analysts have also recently issued reports on ESLT. Weiss Ratings cut shares of Elbit Systems from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Zacks Research lowered shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 24th. Jefferies Financial Group decreased their target price on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a report on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 target price on shares of Elbit Systems in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $787.50.

Elbit Systems Stock Down 5.2%

Shares of Elbit Systems stock traded down $41.05 during midday trading on Wednesday, hitting $754.66. The company had a trading volume of 125,073 shares, compared to its average volume of 131,442. Elbit Systems has a 52-week low of $447.00 and a 52-week high of $1,016.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39. The stock has a market capitalization of $33.54 billion, a P/E ratio of 56.84, a P/E/G ratio of 3.32 and a beta of 0.17. The company has a 50 day moving average of $790.78 and a 200 day moving average of $811.12.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.45. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%.The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.25 billion. On average, equities analysts predict that Elbit Systems will post 15.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elbit Systems

Large investors have recently bought and sold shares of the business. Archer Investment Corp purchased a new position in Elbit Systems in the 2nd quarter worth about $76,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Elbit Systems during the 2nd quarter valued at about $3,633,000. Jones Financial Companies Lllp purchased a new stake in shares of Elbit Systems during the 2nd quarter valued at about $250,000. Orser Capital Management LLC bought a new stake in shares of Elbit Systems in the second quarter worth approximately $2,203,000. Finally, 180 Wealth Advisors LLC grew its stake in shares of Elbit Systems by 6.2% in the second quarter. 180 Wealth Advisors LLC now owns 428 shares of the aerospace company's stock worth $325,000 after acquiring an additional 25 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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