Esterline Techs Gets a Hold from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst Kenneth Herbert reiterated a Hold rating on Esterline Techs (NYSE: ESL) today and set a price target of $86. The company’s shares closed yesterday at $86.45.

According to, Herbert is a 4-star analyst with an average return of 6.5% and a 50.9% success rate. Herbert covers the Industrial Goods sector, focusing on stocks such as Transdigm Group Inc, CPI Aerostructures, and Spirit AeroSystems.

Currently, the analyst consensus on Esterline Techs is Moderate Buy and the average price target is $91.33, representing a 5.6% upside.

In a report issued on April 17, Jefferies also reiterated a Hold rating on the stock with a $92 price target.

Based on Esterline Techs’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $464 million and quarterly net profit of $16.19 million. In comparison, last year the company earned revenue of $500 million and had a net profit of $14.97 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.

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Esterline Technologies Corp. engages in the manufacture of aircraft parts and components, automated drilling products and machine tool systems. It operates through the following segments: Avionics and Controls; Sensors and Systems; and Advanced Materials. The Avionics and Controls segment includes avionics systems, control systems, interface technologies and communication systems capabilities. The Sensors and Systems segment includes power systems, connection technologies and advanced sensors capabilities. The Advanced Materials segment includes engineered materials and defense technologies capabilities. It also develops and manufactures combustible ordnance and countermeasures for military applications. The company was founded in 1967 and is headquartered in Bellevue, WA.