Carlisle Companies (NYSE:CSL) Stock Gets Price Target Cut from Robert W. Baird

Carlisle Companies (NYSE:CSL) had its price target reduced by Robert W. Baird from $412.00 to $402.00 in a research report report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the conglomerate’s stock.

CSL has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Carlisle Companies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Truist Financial cut their price target on Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Finally, DA Davidson set a $355.00 price target on Carlisle Companies in a research report on Friday, October 9th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $394.50.

Carlisle Companies Trading Up 2.7%

CSL stock opened at $335.41 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.04 and a current ratio of 2.60. The company’s 50-day simple moving average is $342.10 and its 200 day simple moving average is $346.84. Carlisle Companies has a 52 week low of $293.43 and a 52 week high of $432.91. The company has a market capitalization of $13.32 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.84.

Carlisle Companies (NYSE:CSL) last released its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.68. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. Carlisle Companies’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $6.27 earnings per share. As a group, sell-side analysts anticipate that Carlisle Companies will post 21.18 earnings per share for the current year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $5.00 annualized dividend and a yield of 1.5%. This is an increase from Carlisle Companies’s previous quarterly dividend of $1.10. Carlisle Companies’s payout ratio is 28.69%.

Institutional Trading of Carlisle Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S acquired a new position in shares of Carlisle Companies during the 2nd quarter worth $2,747,000. Empowered Funds LLC bought a new stake in shares of Carlisle Companies during the 2nd quarter worth $1,914,000. Squarepoint Ops LLC lifted its position in shares of Carlisle Companies by 28.8% during the 2nd quarter. Squarepoint Ops LLC now owns 47,679 shares of the conglomerate’s stock worth $17,296,000 after buying an additional 10,653 shares during the last quarter. Legal & General Group Plc acquired a new stake in Carlisle Companies in the second quarter valued at about $49,811,000. Finally, Man Group plc acquired a new stake in Carlisle Companies in the second quarter valued at about $4,682,000. Institutional investors own 89.52% of the company’s stock.

About Carlisle Companies

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on building products and related technologies. Through its Carlisle Construction Materials and Carlisle Weatherproofing Technologies businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, architectural metals, and other building-envelope solutions. Its products are used in new construction, renovation, and maintenance projects.

Carlisle also develops products for specialized industrial and aerospace applications.