Carlisle Companies (NYSE:CSL) Shares Gap Down on Analyst Downgrade

Carlisle Companies Incorporated (NYSE:CSL) gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $506.00 to $500.00. The stock had previously closed at $458.62, but opened at $427.77. Robert W. Baird currently has an outperform rating on the stock. Carlisle Companies shares last traded at $423.51, with a volume of 136,639 shares.

A number of other equities analysts also recently issued reports on CSL. StockNews.com downgraded Carlisle Companies from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Oppenheimer lifted their price target on shares of Carlisle Companies from $480.00 to $505.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Carlisle Companies presently has a consensus rating of “Moderate Buy” and an average target price of $475.00.

Insider Buying and Selling at Carlisle Companies

In other news, VP David W. Smith sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $425.56, for a total transaction of $255,336.00. Following the transaction, the vice president now directly owns 2,834 shares in the company, valued at approximately $1,206,037.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carlisle Companies

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in Carlisle Companies in the 1st quarter valued at about $228,000. Sound Income Strategies LLC increased its holdings in shares of Carlisle Companies by 564.7% in the first quarter. Sound Income Strategies LLC now owns 113 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 96 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Carlisle Companies by 1.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the conglomerate’s stock worth $1,511,000 after purchasing an additional 43 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Carlisle Companies during the first quarter worth $233,000. Finally, Astoria Portfolio Advisors LLC. grew its position in Carlisle Companies by 5.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 711 shares of the conglomerate’s stock valued at $265,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.

Carlisle Companies Stock Down 7.7 %

The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 1.52 and a beta of 0.91. The company has a current ratio of 2.89, a quick ratio of 2.50 and a debt-to-equity ratio of 0.63. The firm’s 50 day simple moving average is $434.28 and its 200-day simple moving average is $415.93.

Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Thursday, October 24th. The conglomerate reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.77 by $0.01. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.68 earnings per share. On average, sell-side analysts anticipate that Carlisle Companies Incorporated will post 20.57 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.00 dividend. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. This represents a $4.00 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Tuesday, August 20th. Carlisle Companies’s dividend payout ratio (DPR) is currently 23.19%.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.