Esterline Technologies (ESL): Today's Featured Aerospace/Defense Winner
Esterline Technologies (ESL) pushed the Aerospace/Defense industry higher today making it today's featured aerospace/defense winner. The industry as a whole closed the day up 0.4%. By the end of trading, Esterline Technologies rose $2.51 (3.9%) to $67.11 on heavy volume. Throughout the day, 551,755 shares of Esterline Technologies exchanged hands as compared to its average daily volume of 278,500 shares. The stock ranged in a price between $64.63-$68.59 after having opened the day at $64.85 as compared to the previous trading day's close of $64.60. Other companies within the Aerospace/Defense industry that increased today were: TAT Technologies (TATT), up 4.5%, Edac Technologies Corporation (EDAC), up 4.3%, Astrotech Corporation (ASTC), up 3.7%, and Astronics Corporation (ATRO), up 2.9%. Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems for aerospace and defense customers primarily in the United States and internationally. Esterline Technologies has a market cap of $1.96 billion and is part of the industrial goods sector. The company has a P/E ratio of 14.7, below the average aerospace/defense industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7. Shares are up 15.4% year to date as of the close of trading on Wednesday. Currently there are six analysts that rate Esterline Technologies a buy, no analysts rate it a sell, and two rate it a hold. TheStreet Ratings rates Esterline Technologies as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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