Zacks Investment Research Lowers CIRCOR International (NYSE:CIR) to Sell

Zacks Investment Research cut shares of CIRCOR International (NYSE:CIR) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “CIRCOR International, Inc. designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets including oil & gas, aerospace, power, process and industrial solutions. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. The Company’s strategy is to grow organically and through complementary acquisitions; simplify CIRCOR’s operations; achieve world class operational excellence; and attract and retain top industry talent. “

Separately, ValuEngine lowered CIRCOR International from a sell rating to a strong sell rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. CIRCOR International has a consensus rating of Hold and an average price target of $48.67.

Shares of CIRCOR International stock traded down $0.13 during trading on Tuesday, reaching $44.69. 65,629 shares of the company were exchanged, compared to its average volume of 96,163. The company has a quick ratio of 1.35, a current ratio of 1.97 and a debt-to-equity ratio of 1.71. CIRCOR International has a twelve month low of $25.03 and a twelve month high of $47.80. The business has a 50-day moving average price of $44.92 and a 200-day moving average price of $40.23. The firm has a market capitalization of $874.65 million, a price-to-earnings ratio of 21.18 and a beta of 2.18.

CIRCOR International (NYSE:CIR) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.16. The firm had revenue of $237.10 million for the quarter, compared to analyst estimates of $251.93 million. CIRCOR International had a positive return on equity of 8.98% and a negative net margin of 14.23%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities research analysts forecast that CIRCOR International will post 2.26 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC lifted its holdings in shares of CIRCOR International by 42.8% in the third quarter. TimesSquare Capital Management LLC now owns 690,600 shares of the industrial products company’s stock valued at $25,932,000 after purchasing an additional 206,925 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of CIRCOR International by 35.7% in the third quarter. Peregrine Capital Management LLC now owns 482,636 shares of the industrial products company’s stock valued at $18,123,000 after purchasing an additional 126,960 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of CIRCOR International by 42.1% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 124,337 shares of the industrial products company’s stock valued at $4,669,000 after purchasing an additional 36,837 shares in the last quarter. J.P. Marvel Investment Advisors LLC bought a new stake in shares of CIRCOR International in the third quarter valued at about $1,277,000. Finally, California Public Employees Retirement System lifted its holdings in shares of CIRCOR International by 161.5% in the third quarter. California Public Employees Retirement System now owns 39,010 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 24,094 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About CIRCOR International

CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Aerospace and Defense, and Industrial. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices and fluid catalytic converter and isolation valves.

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