Wall Street Zen Upgrades Elbit Systems (NASDAQ:ESLT) to “Buy”

Elbit Systems (NASDAQ:ESLT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Bank of America upped their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $540.00.

Elbit Systems Price Performance

ESLT stock opened at $480.21 on Friday. The stock’s 50 day moving average price is $453.10 and its 200 day moving average price is $406.67. The firm has a market cap of $21.35 billion, a P/E ratio of 54.51, a PEG ratio of 1.82 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. Elbit Systems has a 1 year low of $188.53 and a 1 year high of $499.00.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. On average, sell-side analysts expect that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elbit Systems

Hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd increased its holdings in shares of Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after buying an additional 158,689 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after acquiring an additional 134,300 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Elbit Systems by 27.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock worth $210,967,000 after acquiring an additional 101,083 shares during the last quarter. Meitav Investment House Ltd. raised its holdings in shares of Elbit Systems by 27.7% in the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after purchasing an additional 82,103 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Elbit Systems by 74.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company’s stock worth $78,084,000 after purchasing an additional 74,754 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.