Analysts Offer Insights on Conglomerates Companies: Enviva (NYSE: EVA), Illinois Tool Works (NYSE: ITW) and Textron Inc. (NYSE: TXT)

By Ryan Adsit

Companies in the Conglomerates sector have received a lot of coverage today as analysts weigh in on Enviva (NYSE: EVA), Illinois Tool Works (NYSE: ITW) and Textron Inc. (NYSE: TXT).

Enviva (NYSE: EVA)

In a report released yesterday, Poe Fratt from D.A. Davidson reiterated a Buy rating on Enviva (NYSE: EVA), with a price target of $31. The company’s shares opened today at $28.15, close to its 52-week high of $29.85.

Fratt commented:

“We surmise EVA was caught up in the rapid knee-jerk shift out of clean tech stocks. The downdraft also coincided with the ex-distribution date of November 10th. Figure I: EVA Price and Volume History (October 3, 2016 – Present, volume in 000s) Source: Capital IQ and D.A. Davidson estimates No change in outlook – US market potential was limited. We understand the concerns about the potential impact of a changing of the guard at the EPA and a less aggressive stance promoting clean air initiatives.”

According to TipRanks.com, Fratt is a 4-star analyst with an average return of 6.9% and a 81.3% success rate. Fratt covers the Basic Materials sector, focusing on stocks such as Blueknight Energy Partners L.P., Calumet Specialty Products, and Antero Midstream Partners.

Enviva has an analyst consensus of Moderate Buy, with a price target consensus of $31.

Illinois Tool Works (NYSE: ITW)

In a report released yesterday, Joel Tiss from BMO Capital reiterated a Buy rating on Illinois Tool Works (NYSE: ITW), with a price target of $120. The company’s shares opened today at $125.70, close to its 52-week high of $127.61.

According to TipRanks.com, Tiss is a 5-star analyst with an average return of 9.5% and a 66.7% success rate. Tiss covers the Industrial Goods sector, focusing on stocks such as The Middleby Corp., Parker Hannifin, and Ingersoll-Rand.

Illinois Tool Works has an analyst consensus of Moderate Buy, with a price target consensus of $125.50.

Textron Inc. (NYSE: TXT)

In a report released today, Peter Skibitski from Drexel Hamilton reiterated a Hold rating on Textron Inc. (NYSE: TXT). The company’s shares opened today at $46.37, close to its 52-week high of $47.44.

Skibitski said:

“We attended TXT Specialized Vehicle’s (TSV) open house yesterday in Augusta, GA, home to both TSV’s headquarters and manufacturing operations as well as The Masters golf tournament. At nearly $1.1B in 2016E sales, TSV is ~29% of Industrial segment revenue, and only about 8% of overall TXT sales.”

According to TipRanks.com, Skibitski is a 5-star analyst with an average return of 14.5% and a 86.5% success rate. Skibitski covers the Industrial Goods sector, focusing on stocks such as General Dynamics Corp., Lockheed Martin Corp., and Ceco Environmental.

Textron Inc. has an analyst consensus of Strong Buy, with a price target consensus of $48.