Strong Buy Upgrade: Esterline Technologies Posts Beat In Merger Wake
ValuEngine | Nov 21, 2018 05:45AM ET
For today’s bulletin, we take a look at our latest STRONG BUY and BUY upgrades. We also provide a link to download a FREE STOCK REPORT on Esterline Technologies Corporation (NYSE:ESL), one of our top upgrades for the day.
VALUATION WATCH: Overvalued stocks now make up 34.11% of our stocks assigned a valuation and 12.81% of those equities are calculated to be overvalued by 20% or more. Three sectors are calculated to be overvalued.
For today’s edition of our upgrade list, we used our website’s advanced screening functions to search for UPGRADES to BUY or STRONG BUY with complete forecast and valuation data. They are presented by one-month forecast return. Iradimed (NASDAQ:IRMD) and Esterline Tech are rated STRONG BUY. The rest of our list components are rated BUY.
Esterline Technologies is a specialized manufacturing company serving principally aerospace and defense markets. Esterline views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit displays and integration systems and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment interconnect solutions, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies including high-performance elastomer products used for a wide range of military and commercial aerospace purposes.
Q4 2018 results were strong. Adjusted earnings from continuing operations were $55.3 million, or $1.87 per diluted share. Consolidated fiscal-year 2018 revenue was $2.035 billion compared with the fiscal 2017 revenue result of $2.000 billion.
ValuEngine updated its recommendation from BUY to STRONG BUY for Esterline Technologies Corporation on 2018-11-20. Based on the information we have gathered and our resulting research, we feel that Esterline Technologies Corporation has the probability to OUTPERFORM average market performance for the next year. The company exhibits ATTRACTIVE Momentum and Company Size.
Get The News You Want
The company entered into a definitive agreement and plan of merger pursuant to which Transdigm Group Incorporated (NYSE:TDG) will purchase all of the outstanding shares of Esterline common stock for $122.50 per share in cash. The transaction is expected to close in 2019.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.