ESCO Technologies (NYSE:ESE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $98.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research’s target price suggests a potential upside of 13.58% from the company’s previous close.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
A number of other equities research analysts have also recently commented on the stock. TheStreet raised shares of ESCO Technologies from a “c” rating to a “b” rating in a report on Friday, November 19th. Sidoti raised shares of ESCO Technologies from a “neutral” rating to a “buy” rating in a report on Tuesday, September 28th.
NYSE:ESE traded down $1.00 during trading hours on Tuesday, hitting $86.28. 90,977 shares of the company were exchanged, compared to its average volume of 108,428. The company has a fifty day simple moving average of $85.24 and a 200 day simple moving average of $88.63. ESCO Technologies has a one year low of $75.19 and a one year high of $115.84. The company has a current ratio of 1.68, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 34.65 and a beta of 1.06.
ESCO Technologies (NYSE:ESE) last issued its earnings results on Thursday, November 18th. The scientific and technical instruments company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. The company had revenue of $205.48 million during the quarter, compared to the consensus estimate of $201.18 million. ESCO Technologies had a return on equity of 6.98% and a net margin of 9.11%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Equities research analysts predict that ESCO Technologies will post 3.15 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ESE. Cullen Frost Bankers Inc. purchased a new stake in ESCO Technologies in the second quarter worth approximately $27,000. Advisor Group Holdings Inc. boosted its stake in shares of ESCO Technologies by 48.3% during the 2nd quarter. Advisor Group Holdings Inc. now owns 691 shares of the scientific and technical instruments company’s stock worth $65,000 after acquiring an additional 225 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in shares of ESCO Technologies by 38.2% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,880 shares of the scientific and technical instruments company’s stock valued at $145,000 after purchasing an additional 520 shares during the period. Caxton Associates LP bought a new stake in shares of ESCO Technologies during the 2nd quarter valued at $228,000. Finally, Janus Henderson Group PLC bought a new stake in shares of ESCO Technologies during the 3rd quarter valued at $202,000. 92.10% of the stock is owned by institutional investors and hedge funds.
About ESCO Technologies
ESCO Technologies, Inc is a producer of engineered products and systems, which engages in the provision of utility, industrial, aerospace, and commercial applications. It operates through the Filtration/Fluid Flow, RF Shielding and Test, Utility Solutions Group (USG), and Technical Packaging segments.