Carlisle Cos. Inc. (NYSE:CSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Carlisle Companies Incorporated manufactures and distributes a wide variety of products across a broad range of industries, including, among others, roofing, construction, trucking, automotive, foodservice, industrial equipment, lawn and garden and aircraft manufacturing. They market their products both as a component supplier to original equipment manufacturers, as well as directly to end users. “
Several other analysts have also issued reports on CSL. Robert W. Baird restated an “outperform” rating and issued a $108.00 price objective on shares of Carlisle Cos. in a report on Thursday, July 7th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $112.00 price objective on shares of Carlisle Cos. in a report on Tuesday, June 28th. Finally, SunTrust Banks Inc. assumed coverage on shares of Carlisle Cos. in a report on Thursday, June 16th. They issued a “buy” rating and a $120.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $113.57.
Shares of Carlisle Cos. (NYSE:CSL) opened at 102.36 on Monday. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 18.27 and a beta of 1.13. Carlisle Cos. has a 52-week low of $75.17 and a 52-week high of $109.13. The firm’s 50 day moving average is $102.90 and its 200 day moving average is $102.69.
Carlisle Cos. (NYSE:CSL) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.12. The firm had revenue of $996.90 million for the quarter, compared to analyst estimates of $1.01 billion. Carlisle Cos. had a net margin of 10.14% and a return on equity of 15.40%. Carlisle Cos.’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. Equities analysts expect that Carlisle Cos. will post $5.77 earnings per share for the current year.
In other news, VP Scott C. Selbach sold 36,085 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $105.59, for a total transaction of $3,810,215.15. Following the completion of the transaction, the vice president now directly owns 67,112 shares of the company’s stock, valued at $7,086,356.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.71% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CSL. BlackRock Institutional Trust Company N.A. increased its position in shares of Carlisle Cos. by 28.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,518,429 shares of the company’s stock worth $250,584,000 after buying an additional 564,390 shares in the last quarter. Norges Bank bought a new position in shares of Carlisle Cos. during the fourth quarter worth approximately $48,514,000. Columbia Wanger Asset Management LLC bought a new position in shares of Carlisle Cos. during the second quarter worth approximately $47,654,000. Bridgeway Capital Management Inc. bought a new position in shares of Carlisle Cos. during the second quarter worth approximately $33,300,000. Finally, Numeric Investors LLC increased its position in shares of Carlisle Cos. by 274.9% in the second quarter. Numeric Investors LLC now owns 380,900 shares of the company’s stock worth $40,254,000 after buying an additional 279,300 shares in the last quarter. 88.94% of the stock is owned by institutional investors and hedge funds.
About Carlisle Cos.
Carlisle Companies Incorporated is a holding company for Carlisle Corporation and its wholly owned subsidiaries. The Company is a diversified manufacturing company. The Company operates through five segments: Carlisle Construction Materials (CCM), Carlisle Interconnect Technologies (CIT), Carlisle Fluid Technologies (CFT), Carlisle Brake & Friction (CBF) and Carlisle FoodService Products (CFSP).
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