Elbit Systems (NASDAQ:ESLT) Lowered to “Hold” Rating by Zacks Research

Elbit Systems (NASDAQ:ESLT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on ESLT. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a research report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on Elbit Systems in a research report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price on the stock. Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Elbit Systems presently has a consensus rating of “Hold” and an average target price of $530.00.

Elbit Systems Stock Down 2.4%

ESLT stock opened at $471.59 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. Elbit Systems has a one year low of $234.48 and a one year high of $529.99. The firm’s fifty day moving average is $492.90 and its 200 day moving average is $455.45. The firm has a market cap of $20.96 billion, a PE ratio of 53.53, a P/E/G ratio of 1.74 and a beta of 0.30.

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

Institutional Investors Weigh In On Elbit Systems

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares during the period. Y.D. More Investments Ltd raised its stake in Elbit Systems by 35.1% during the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after buying an additional 158,689 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Elbit Systems by 226.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after acquiring an additional 134,300 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Elbit Systems by 27.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock valued at $210,967,000 after acquiring an additional 101,083 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its position in shares of Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after acquiring an additional 82,103 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

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.