Woodward’s (WWD) Hold Rating Reaffirmed at TD Cowen

Woodward (NASDAQ:WWD)‘s stock had its “hold” rating reiterated by stock analysts at TD Cowen in a research note issued on Friday, MarketBeat reports. They presently have a $160.00 price target on the technology company’s stock, down from their previous price target of $186.00. TD Cowen’s price objective suggests a potential downside of 4.55% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. StockNews.com cut Woodward from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday. The Goldman Sachs Group dropped their target price on Woodward from $228.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Truist Financial raised Woodward from a “hold” rating to a “buy” rating and increased their target price for the stock from $152.00 to $187.00 in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $190.00 in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Woodward presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.67.

Woodward Stock Performance

Woodward stock opened at $167.62 on Friday. The stock has a 50 day moving average of $162.51 and a 200-day moving average of $167.51. Woodward has a 52 week low of $119.03 and a 52 week high of $188.35. The stock has a market cap of $10.21 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.37. The company has a current ratio of 1.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.11. Woodward had a return on equity of 17.16% and a net margin of 11.47%. The firm had revenue of $847.69 million for the quarter, compared to analysts’ expectations of $853.29 million. During the same period last year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Woodward will post 5.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WWD. Fidelis Capital Partners LLC acquired a new position in shares of Woodward during the first quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Woodward during the first quarter valued at $34,000. AlphaCentric Advisors LLC acquired a new position in shares of Woodward during the second quarter valued at $37,000. Daiwa Securities Group Inc. acquired a new position in shares of Woodward during the first quarter valued at $46,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Woodward by 4,177.8% during the fourth quarter. Jones Financial Companies Lllp now owns 385 shares of the technology company’s stock valued at $52,000 after purchasing an additional 376 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.

About Woodward

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.