What Made Oppenheimer Downgrade Carlisle Companies Inc’s Stock?

By Jason Carr

Carlisle Companies Inc (NYSE: CSL) received a Hold rating from Oppenheimer analyst Jim Giannakouros yesterday. The company’s shares closed yesterday at $99.27, close to its 52-week low of $97.72.

Giannakouros wrote:

“While confident in CSL’s competitive positioning and long-term upside across platforms, we’re incrementally cautious on CCM price/cost dynamics following discussions with market participants at the Western Roofing Expo this week. We thus see related earnings risk near term. Given CCM margin headwinds (currently ~70% of EBIT) and CIT’s run rate organic pressures (“gap” in sales during its early stage SatCom ramp), we believe majority of CSL’s consolidated EBIT will remain pressured in 2017 and expect related subdued sentiment/valuation pressures to persist.”

According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 3.9% and a 54.1% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.

Carlisle Companies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $130.

Based on Carlisle Companies Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $857 million and quarterly net profit of $61.3 million. In comparison, last year the company earned revenue of $794 million and had a net profit of $67.8 million.

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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.