Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock Rating Upgraded by StockNews.com

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

Espey Mfg. & Electronics Trading Down 2.4 %

Shares of ESP stock traded down $0.71 during trading hours on Thursday, hitting $28.94. The stock had a trading volume of 71,177 shares, compared to its average volume of 14,526. Espey Mfg. & Electronics has a one year low of $16.50 and a one year high of $33.00. The stock has a market capitalization of $80.74 million, a price-to-earnings ratio of 11.76 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings data on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. Espey Mfg. & Electronics had a return on equity of 15.66% and a net margin of 15.56%. The company had revenue of $11.61 million for the quarter.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,018 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ESP. Morgan Dempsey Capital Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the second quarter valued at approximately $113,000. Perritt Capital Management Inc. boosted its position in shares of Espey Mfg. & Electronics by 66.7% during the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after buying an additional 2,201 shares during the period. Secure Asset Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the third quarter valued at approximately $219,000. Ellsworth Advisors LLC purchased a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at approximately $476,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Espey Mfg. & Electronics by 55.3% in the third quarter. Geode Capital Management LLC now owns 23,907 shares of the company’s stock valued at $719,000 after purchasing an additional 8,511 shares during the period. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.