Elbit Systems (NASDAQ:ESLT) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems (NASDAQ:ESLT) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “neutral” rating and a $520.00 price target on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.45% from the company’s previous close.

Other analysts have also issued reports about the company. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $530.00.

Elbit Systems Trading Up 0.9%

Shares of NASDAQ ESLT opened at $497.85 on Tuesday. Elbit Systems has a 52 week low of $197.95 and a 52 week high of $510.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The business has a 50 day simple moving average of $475.22 and a 200 day simple moving average of $432.77. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 56.51, a PEG ratio of 1.75 and a beta of 0.37.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.66. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the prior year, the company posted $2.08 earnings per share. On average, research analysts predict that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elbit Systems

Hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Elbit Systems during the 2nd quarter valued at about $28,000. Larson Financial Group LLC purchased a new stake in Elbit Systems during the 1st quarter valued at $29,000. Traub Capital Management LLC purchased a new stake in Elbit Systems during the 2nd quarter valued at $31,000. SBI Securities Co. Ltd. boosted its stake in Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 107 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in Elbit Systems during the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 17.88% of the company’s stock.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.