Wall Street Zen Downgrades Elbit Systems (NASDAQ:ESLT) to Hold

Elbit Systems (NASDAQ:ESLT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Elbit Systems in a report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price objective for the company. Bank of America increased their price target on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 1st. Finally, Morgan Stanley assumed coverage on Elbit Systems in a research note on Thursday. They issued an “equal weight” rating and a $531.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $530.33.

Elbit Systems Stock Up 0.9%

Shares of NASDAQ:ESLT opened at $515.24 on Friday. Elbit Systems has a 52 week low of $251.26 and a 52 week high of $529.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. The company’s fifty day moving average is $486.30 and its 200-day moving average is $469.22. The company has a market capitalization of $22.90 billion, a PE ratio of 52.36, a P/E/G ratio of 1.79 and a beta of 0.24.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Equities research analysts predict that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elbit Systems

Large investors have recently made changes to their positions in the company. LPL Financial LLC increased its position in Elbit Systems by 75.1% in the first quarter. LPL Financial LLC now owns 10,039 shares of the aerospace company’s stock worth $3,852,000 after purchasing an additional 4,307 shares during the period. Vanguard Group Inc. boosted its stake in shares of Elbit Systems by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company’s stock valued at $341,276,000 after purchasing an additional 15,552 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Elbit Systems by 23.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,889 shares of the aerospace company’s stock worth $1,492,000 after buying an additional 749 shares during the period. National Bank of Canada FI grew its position in shares of Elbit Systems by 8.6% during the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company’s stock worth $151,000 after buying an additional 31 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Elbit Systems by 5.3% during the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company’s stock worth $337,000 after buying an additional 44 shares during the last quarter. 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.