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

Shares of Carlisle Companies Incorporated (NYSE:CSL) gapped down prior to trading 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 changing hands.

Other equities analysts have also recently issued reports about the stock. 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 report on Tuesday. StockNews.com cut shares of Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Carlisle Companies currently has an average rating of “Moderate Buy” and an average target price of $475.00.

Insider Transactions at Carlisle Companies

In related news, VP David W. Smith sold 600 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 2,834 shares in the company, valued at $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 available at this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Carlisle Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC raised its holdings in shares of Carlisle Companies by 3.4% during the third quarter. Resonant Capital Advisors LLC now owns 739 shares of the conglomerate’s stock worth $332,000 after acquiring an additional 24 shares during the period. Tributary Capital Management LLC raised its holdings in shares of Carlisle Companies by 1.1% during the third quarter. Tributary Capital Management LLC now owns 2,275 shares of the conglomerate’s stock worth $1,023,000 after acquiring an additional 24 shares during the period. Diversify Advisory Services LLC raised its holdings in shares of Carlisle Companies by 1.6% during the third quarter. Diversify Advisory Services LLC now owns 1,561 shares of the conglomerate’s stock worth $719,000 after acquiring an additional 25 shares during the period. Equitable Trust Co. raised its holdings in shares of Carlisle Companies by 0.4% during the second quarter. Equitable Trust Co. now owns 8,589 shares of the conglomerate’s stock worth $3,480,000 after acquiring an additional 30 shares during the period. Finally, Astoria Portfolio Advisors LLC. raised its holdings in shares of Carlisle Companies by 5.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 711 shares of the conglomerate’s stock worth $265,000 after acquiring an additional 34 shares during the period. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Carlisle Companies Stock Down 9.0 %

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 $434.55 and its 200-day simple moving average is $416.05. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Carlisle Companies (NYSE:CSL) last issued its quarterly earnings results on Thursday, October 24th. The conglomerate reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.77 by $0.01. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business earned $4.68 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that Carlisle Companies Incorporated will post 20.57 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.00 dividend. This is a positive change from Carlisle Companies’s previous quarterly dividend of $0.85. This represents a $4.00 annualized dividend and a yield of 0.96%. The ex-dividend date was Tuesday, August 20th. Carlisle Companies’s payout ratio is presently 23.19%.

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.