Teledyne Technologies Incorporated (NYSE:TDY – Get Free Report) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 464,200 shares, a drop of 24.4% from the September 15th total of 614,300 shares. Based on an average daily volume of 226,400 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.0% of the company’s shares are short sold.
Analyst Ratings Changes
TDY has been the subject of several recent analyst reports. Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Vertical Research assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $450.50.
Get Our Latest Stock Analysis on Teledyne Technologies
Institutional Investors Weigh In On Teledyne Technologies
Teledyne Technologies Stock Down 0.8 %
Teledyne Technologies stock traded down $3.54 during mid-day trading on Tuesday, reaching $450.30. The company’s stock had a trading volume of 303,733 shares, compared to its average volume of 239,128. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $458.15. The business’s 50 day simple moving average is $427.77 and its 200 day simple moving average is $408.23. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.13 and a beta of 1.01.
Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $4.67 EPS. Teledyne Technologies’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current year.
About Teledyne Technologies
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.
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