Zacks Research Upgrades Elbit Systems (NASDAQ:ESLT) to Strong-Buy

Key Points

• Elbit Systems (NASDAQ:ESLT) was upgraded by Zacks Research to a Strong-Buy rating, reflecting positive analyst sentiment.
• Despite the upgrade, Elbit Systems' stock recently fell 2.8%, with shares opening at $502.07.
• The company reported $3.23 earnings per share, surpassing estimates, and had a market capitalization of $22.32 billion.

Elbit Systems (NASDAQ:ESLT - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on ESLT. Weiss Ratings restated a "hold (c)" rating on shares of Elbit Systems in a research note on Wednesday, October 8th. Wall Street Zen downgraded Elbit Systems from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a research note on Tuesday, September 30th. They set a "neutral" rating and a $520.00 target price for the company. Finally, Bank of America raised their target price on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $530.00.

Elbit Systems Stock Down 2.8%

Shares of Elbit Systems stock opened at $502.07 on Tuesday. The business has a 50-day moving average of $487.37 and a 200-day moving average of $441.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The company has a market capitalization of $22.32 billion, a PE ratio of 56.99, a P/E/G ratio of 1.88 and a beta of 0.33. Elbit Systems has a 1-year low of $207.71 and a 1-year high of $529.99.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.66. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period last year, the firm earned $2.08 earnings per share. As a group, equities analysts forecast that Elbit Systems will post 8.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently made changes to their positions in the business. Assetmark Inc. raised its holdings in shares of Elbit Systems by 11.2% during the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company's stock valued at $94,000 after buying an additional 21 shares during the last quarter. National Bank of Canada FI grew its position in Elbit Systems by 8.6% in the first quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock worth $151,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Elbit Systems by 20.9% in the second quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company's stock worth $83,000 after buying an additional 32 shares during the last quarter. Townsquare Capital LLC grew its position in Elbit Systems by 5.3% in the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company's stock worth $337,000 after buying an additional 44 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in Elbit Systems by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company's stock worth $6,460,000 after buying an additional 48 shares during the last quarter. Institutional investors own 17.88% of the company's stock.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.

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