Woodward (NASDAQ:WWD) Lowered to “Hold” at StockNews.com

Woodward (NASDAQ:WWD) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of Woodward from a “buy” rating to a “hold” rating and decreased their target price for the stock from $197.00 to $158.00 in a research report on Wednesday, July 31st. The Goldman Sachs Group decreased their price objective on shares of Woodward from $228.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Truist Financial upgraded shares of Woodward from a “hold” rating to a “buy” rating and upped their target price for the stock from $152.00 to $187.00 in a research report on Wednesday, August 21st. TD Cowen reduced their price target on shares of Woodward from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $177.11.

Woodward Stock Performance

NASDAQ WWD traded down $1.97 during trading hours on Monday, hitting $163.14. 417,528 shares of the stock were exchanged, compared to its average volume of 427,774. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37. Woodward has a 12-month low of $119.03 and a 12-month high of $188.35. The stock has a 50-day moving average of $165.63 and a 200 day moving average of $165.46.

Woodward (NASDAQ:WWD) last issued its earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Woodward had a return on equity of 17.16% and a net margin of 11.47%. The business had revenue of $847.69 million during the quarter, compared to the consensus estimate of $853.29 million. During the same period in the prior year, the business posted $1.37 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Woodward will post 5.91 earnings per share for the current year.

Institutional Investors Weigh In On Woodward

Several hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in shares of Woodward during the first quarter valued at approximately $31,000. Principal Securities Inc. purchased a new position in shares of Woodward during the 4th quarter worth $34,000. Mather Group LLC. purchased a new position in shares of Woodward during the 1st quarter worth $34,000. AlphaCentric Advisors LLC acquired a new stake in shares of Woodward during the second quarter worth $37,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Woodward in the first quarter valued at $46,000. 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.