Carlisle Companies Incorporated (CSL) Gets a Buy Rating from Oppenheimer

By Carrie Williams

Oppenheimer analyst Bryan Blair reiterated a Buy rating on Carlisle Companies Incorporated (CSLResearch Report) today and set a price target of $135. The company’s shares closed yesterday at $112.66.

Blair observed:

“CSL reported 4Q18 EPS of $1.49, well above our/consensus $1.24/1.23E on operating outperformance (each segment modestly ahead of EBIT expectations) and a favorable tax rate. More important, management guided for solid +L/MSD 2019 core sales growth (+HSD including Petersen contribution), significantly favorable (+ $40-50M) CCM price/cost, and continued self-help margin progression across CIT, CFT, and CBF. All in, we believe the pillars of our thesis are strongly intact (rising core CCM profitability, upside margin/accretion potential at Accella, underappreciated margin expansion prospects in CIT and CFT, discounted balance sheet optionality) and believe CSL can sustain EPS outgrowth over the intermediate term. Combining this outlook with discounted valuation (<9x 2019E EBITDA), we reiterate our Outperform rating and increase our price target to $135 from $125."

According to TipRanks.com, Blair is a 1-star analyst with an average return of -2.6% and a 43.3% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Mueller Water Products, Rexnord Corporation, and Flowserve Corp.

Currently, the analyst consensus on Carlisle Companies Incorporated is a Strong Buy with an average price target of $129.

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Carlisle Companies Incorporated’s market cap is currently $6.71B and has a P/E ratio of 20.53. The company has a Price to Book ratio of 2.48.

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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 FoodService Products, Carlisle Fluid Technologies, and Carlisle Brake & Friction.