Stifel Nicolaus Initiates Coverage on Teledyne Technologies (NYSE:TDY)

Equities research analysts at Stifel Nicolaus began coverage on shares of Teledyne Technologies (NYSE:TDY - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a "buy" rating and a $626.00 price target on the scientific and technical instruments company's stock. Stifel Nicolaus' price objective points to a potential upside of 26.56% from the stock's previous close.

Other analysts also recently issued reports about the company. Needham & Company LLC cut their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Securities reiterated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America boosted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $554.43.

Teledyne Technologies Stock Performance

TDY traded up $3.63 during trading on Tuesday, hitting $494.63. The stock had a trading volume of 536,231 shares, compared to its average volume of 305,648. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The company has a 50 day moving average price of $483.77 and a 200-day moving average price of $484.65. Teledyne Technologies has a one year low of $380.63 and a one year high of $522.50. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.30 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $4.55 earnings per share. Teledyne Technologies's revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Teledyne Technologies will post 21.55 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC boosted its stake in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 35 shares in the last quarter. Quarry LP bought a new stake in Teledyne Technologies during the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new position in Teledyne Technologies in the 1st quarter valued at approximately $28,000. Hurley Capital LLC bought a new position in shares of Teledyne Technologies during the fourth quarter valued at $33,000. Finally, Ancora Advisors LLC raised its stake in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.