Carlisle Companies’ (CSL) “Outperform” Rating Reaffirmed at Oppenheimer

Carlisle Companies (NYSE:CSL)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports. They currently have a $480.00 target price on the conglomerate’s stock, up from their prior target price of $475.00. Oppenheimer’s price target indicates a potential upside of 19.08% from the company’s previous close.

A number of other brokerages have also issued reports on CSL. StockNews.com lowered shares of Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Robert W. Baird increased their price target on Carlisle Companies from $465.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.00.

Carlisle Companies Stock Performance

Carlisle Companies stock traded down $0.30 during trading hours on Wednesday, hitting $403.10. The company had a trading volume of 22,931 shares, compared to its average volume of 326,108. The firm has a 50-day moving average of $410.43 and a 200 day moving average of $397.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.89 and a quick ratio of 2.50. The firm has a market cap of $18.64 billion, a PE ratio of 23.37, a PEG ratio of 1.37 and a beta of 0.90. Carlisle Companies has a one year low of $235.79 and a one year high of $443.87.

Carlisle Companies (NYSE:CSL) last released its quarterly earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.40. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.45 billion. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.18 EPS. On average, sell-side analysts expect that Carlisle Companies will post 20.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP David W. Smith sold 600 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $425.56, for a total transaction of $255,336.00. Following the completion of the transaction, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP David W. Smith sold 600 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $425.56, for a total value of $255,336.00. Following the completion of the transaction, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin P. Zdimal sold 21,470 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the completion of the sale, the chief financial officer now owns 35,641 shares in the company, valued at approximately $15,157,760.89. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Carlisle Companies

A number of hedge funds have recently made changes to their positions in the company. Truist Financial Corp boosted its position in Carlisle Companies by 0.8% during the 2nd quarter. Truist Financial Corp now owns 334,241 shares of the conglomerate’s stock worth $135,438,000 after buying an additional 2,545 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Carlisle Companies by 12.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,620 shares of the conglomerate’s stock valued at $1,467,000 after acquiring an additional 407 shares during the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Carlisle Companies during the second quarter worth $608,000. Creative Planning grew its stake in shares of Carlisle Companies by 11.0% in the second quarter. Creative Planning now owns 6,010 shares of the conglomerate’s stock worth $2,435,000 after purchasing an additional 594 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Carlisle Companies by 44.6% in the second quarter. Driehaus Capital Management LLC now owns 56,689 shares of the conglomerate’s stock valued at $22,971,000 after purchasing an additional 17,472 shares during the period. 89.52% of the stock is owned by institutional investors and hedge funds.

About Carlisle Companies

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.