Woodward (NASDAQ:WWD) Upgraded by Wolfe Research to Outperform Rating

Key Points

• Woodward (NASDAQ:WWD) was upgraded to an outperform rating by Wolfe Research, with a target price of $300.00, indicating a potential upside of 16.41% from its previous close.
• Eight analysts have given Woodward a Buy rating, while four have rated it as Hold, resulting in an average rating of "Moderate Buy" with an average target price of $268.67.
• In its latest earnings report, Woodward exceeded expectations with $1.76 EPS and saw an 8% increase in year-over-year revenue, amounting to $915.45 million.

Woodward (NASDAQ:WWD - Get Free Report) was upgraded by equities researchers at Wolfe Research from a "hold" rating to an "outperform" rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a $300.00 target price on the technology company's stock. Wolfe Research's target price would suggest a potential upside of 16.41% from the stock's previous close.

A number of other analysts also recently issued reports on WWD. Alembic Global Advisors raised shares of Woodward from a "neutral" rating to an "overweight" rating and set a $281.00 target price for the company in a research report on Wednesday, August 20th. Weiss Ratings restated a "buy (b)" rating on shares of Woodward in a report on Saturday, September 27th. The Goldman Sachs Group upped their price target on Woodward from $229.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Truist Financial upped their price target on Woodward from $267.00 to $294.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Barclays upped their price target on Woodward from $200.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Woodward has an average rating of "Moderate Buy" and an average target price of $268.67.

Woodward Stock Up 1.3%

WWD opened at $257.72 on Friday. The firm has a 50 day moving average price of $247.49 and a 200 day moving average price of $224.05. The company has a market cap of $15.46 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.43 and a beta of 1.26. Woodward has a 1 year low of $146.82 and a 1 year high of $267.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.04.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results on Monday, July 28th. The technology company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The firm had revenue of $915.45 million during the quarter, compared to the consensus estimate of $884.98 million. Woodward had a net margin of 11.32% and a return on equity of 16.57%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. Woodward has set its FY 2025 guidance at 6.500-6.750 EPS. Sell-side analysts expect that Woodward will post 6.15 earnings per share for the current year.

Insider Activity at Woodward

In other news, Director John D. Cohn sold 1,750 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $244.32, for a total transaction of $427,560.00. Following the completion of the transaction, the director directly owned 20,963 shares in the company, valued at approximately $5,121,680.16. This represents a 7.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Woodward

Several institutional investors and hedge funds have recently made changes to their positions in WWD. Newport Trust Company LLC lifted its stake in Woodward by 2.3% during the first quarter. Newport Trust Company LLC now owns 2,193,238 shares of the technology company's stock worth $400,244,000 after purchasing an additional 49,481 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Woodward by 5.0% during the first quarter. JPMorgan Chase & Co. now owns 1,092,257 shares of the technology company's stock worth $199,326,000 after purchasing an additional 51,873 shares during the last quarter. Bank of America Corp DE lifted its stake in Woodward by 1.8% during the second quarter. Bank of America Corp DE now owns 869,117 shares of the technology company's stock worth $213,012,000 after purchasing an additional 15,572 shares during the last quarter. Norges Bank bought a new position in Woodward during the second quarter worth $201,555,000. Finally, Sei Investments Co. lifted its stake in Woodward by 4.6% during the second quarter. Sei Investments Co. now owns 711,804 shares of the technology company's stock worth $174,458,000 after purchasing an additional 31,434 shares during the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

About Woodward

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.

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