Oppenheimer Issues a Buy Rating on Carlisle Companies IncBy Carrie Williams
In a report released yesterday, Jim Giannakouros from Oppenheimer reiterated a Buy rating on Carlisle Companies Inc (NYSE: CSL), with a price target of $120. The company’s shares closed yesterday at $106.86.
“Given CSL’s post-election underperformance (-1% vs. XLI +12%, S&P +10%), we revisited its moving parts and came away incrementally confident in fundamentals across segments. While investors question CCM’s ability to sustain growth and offset price/cost pressures (holding margins above historical average), our checks indicate solid underlying demand and we believe the increasing scale and efficiency of operations remain overlooked / undervalued. Notably, our checks suggest early- stage success for April price increases (any traction affording upside to guidance). Across other platforms, we see a number of intermediate-term drivers (SatCom, CFT integration, improving CBF demand) that also appear underappreciated by the market. Combining these drivers with strategic M&A, we believe CSL remains well positioned for long-term EPS growth and share price outperformance.”
According to TipRanks.com, Giannakouros is a 4-star analyst with an average return of 3.8% and a 57.8% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Carlisle Companies Inc is Moderate Buy and the average price target is $125, representing a 17.0% upside.
In a report released yesterday, BMO Capital also reiterated a Buy rating on the stock with a $130 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CSL in relation to earlier this year. Most recently, in February 2016, Magalen Webert, a Director at CSL bought 4,000 shares for a total of $137,720.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Carlisle Cos., Inc. engages in the manufacture and distribution of engineered products for both original equipment and aftermarket channels. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, Carlisle Brake and Friction, and Carlisle FoodService Products. The Carlisle Construction Materials segment includes the manufacture of a range of roofing and waterproofing products for commercial and industrial buildings. The Carlisle Interconnect Technologies segment focuses on the design and manufacture of wire and cable, fiber optic cable, RF or microwave connectors, avionics trays, racks, integrated systems, and cable assemblies for applications in the aerospace industry. The Carlisle Fluid Technologies segment deals with the design and manufacture of a range of finishing equipment focused on powder coating, spraying, pumping, mixing, metering, and curing of a variety of coatings. The Carlisle Brake and Friction segment engages in the development and manufacture of brake and friction system solutions. The Carlisle FoodService Products segment includes the manufacture and marketing of professional-grade product solutions for the restaurant, healthcare, and janitorial segments. The company was founded by Charles S. Moomy in 1917 and is headquartered in Scottsdale, AZ.