CIRCOR International (CIR) Cut to Sell at Zacks Investment Research

CIRCOR International (NYSE:CIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, March 19th.

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. “

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CIR has been the subject of a number of other research reports. ValuEngine downgraded CIRCOR International from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Stifel Nicolaus raised their price target on CIRCOR International from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, SunTrust Banks restated a “buy” rating and issued a $56.00 target price on shares of CIRCOR International in a research report on Friday, March 2nd. Four research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. CIRCOR International currently has a consensus rating of “Hold” and a consensus target price of $59.50.

CIR opened at $43.26 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 1.31. CIRCOR International has a one year low of $40.58 and a one year high of $68.76. The firm has a market cap of $830.52, a price-to-earnings ratio of 24.54 and a beta of 1.71.

CIRCOR International (NYSE:CIR) last announced its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. CIRCOR International had a return on equity of 6.06% and a net margin of 1.78%. The company had revenue of $205.58 million during the quarter, compared to analyst estimates of $170.60 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. equities analysts anticipate that CIRCOR International will post 2.2 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in CIRCOR International during the third quarter valued at about $121,000. Municipal Employees Retirement System of Michigan increased its stake in shares of CIRCOR International by 59.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,190 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 2,320 shares during the period. MetLife Investment Advisors LLC bought a new position in CIRCOR International during the fourth quarter valued at about $355,000. Pinebridge Investments L.P. increased its stake in CIRCOR International by 22.0% during the fourth quarter. Pinebridge Investments L.P. now owns 23,696 shares of the industrial products company’s stock valued at $1,153,000 after acquiring an additional 4,281 shares during the period. Finally, Arizona State Retirement System increased its stake in CIRCOR International by 224.8% during the fourth quarter. Arizona State Retirement System now owns 27,732 shares of the industrial products company’s stock valued at $1,350,000 after acquiring an additional 19,194 shares during the period. Institutional investors own 87.26% of the company’s stock.

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About CIRCOR International

CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Advanced Flow Solutions, and Fluid Handling. 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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