Wall Street Zen Downgrades Curtiss-Wright (NYSE:CW) to Buy

Key Points

• Wall Street Zen has downgraded Curtiss-Wright from a "strong-buy" to a "buy" rating in their latest research note.
• Truist Financial reduced their price target for Curtiss-Wright from $356.00 to $338.00 while maintaining a "hold" rating, contrasting with other firms that have increased their price targets.
• The average rating for Curtiss-Wright is currently "Moderate Buy" with an average target price of $467.14.

Curtiss-Wright (NYSE:CW - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

A number of other brokerages also recently issued reports on CW. Truist Financial lowered their price objective on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Robert W. Baird increased their target price on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Morgan Stanley boosted their price target on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Citigroup upped their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $365.00 to $450.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $467.14.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $493.77 on Friday. The firm has a 50 day simple moving average of $472.92 and a 200 day simple moving average of $386.66. The company has a market cap of $18.60 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 3.08 and a beta of 1.18. Curtiss-Wright has a one year low of $258.85 and a one year high of $499.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The company had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. During the same quarter last year, the business posted $1.99 EPS. Curtiss-Wright's revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts predict that Curtiss-Wright will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Curtiss-Wright

In other news, Director Bruce D. Hoechner sold 1,900 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction of $851,200.00. Following the transaction, the director owned 4,523 shares in the company, valued at approximately $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John C. Watts sold 450 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the transaction, the vice president directly owned 4,959 shares in the company, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On Curtiss-Wright

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its position in Curtiss-Wright by 65.7% in the 4th quarter. LPL Financial LLC now owns 25,069 shares of the aerospace company's stock valued at $8,896,000 after acquiring an additional 9,939 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Curtiss-Wright by 28.9% in the fourth quarter. JPMorgan Chase & Co. now owns 153,631 shares of the aerospace company's stock worth $54,519,000 after purchasing an additional 34,489 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Curtiss-Wright by 9.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,340 shares of the aerospace company's stock valued at $1,895,000 after purchasing an additional 449 shares in the last quarter. Summit Financial LLC purchased a new position in shares of Curtiss-Wright during the fourth quarter valued at approximately $251,000. Finally, Geode Capital Management LLC grew its holdings in Curtiss-Wright by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company's stock worth $264,071,000 after buying an additional 12,086 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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.