Esterline Techs Gets a Hold Rating from Canaccord Genuity

By Austin Angelo

Canaccord Genuity analyst Kenneth Herbert reiterated a Hold rating on Esterline Techs (NYSE: ESL) yesterday and set a price target of $90. The company’s shares closed yesterday at $95.95, close to its 52-week high of $102.70.

According to, Herbert is a 5-star analyst with an average return of 9.3% and a 59.2% success rate. Herbert covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, CPI Aerostructures, and Spirit AeroSystems.

Esterline Techs has an analyst consensus of Moderate Buy, with a price target consensus of $96.

Based on Esterline Techs’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $504 million and quarterly net profit of $35.11 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 34 insiders, corporate insider sentiment is negative on the stock. Last month, Robert David George, the VP,CFO, Corporate Development of ESL sold 26,700 shares for a total of $2,495,277.

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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 & Controls; Sensors & Systems; and Advanced Materials. The Avionics & Controls segment includes avionics systems, control systems, interface technologies and communication systems capabilities. The Sensors & Systems segment includes power systems, connection technologies and advanced sensors capabilities. The Advanced Materials segment includes engineered materials and defense technologies capabilities. The company also develops and manufactures combustible ordnance and countermeasures for military applications. Esterline Technologies was founded in 1967 and is headquartered in Bellevue, WA.