Esco Technologies (ESE – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Josh Sullivan from Benchmark Co. maintained a Buy rating on the stock and has a $190.00 price target.
Josh Sullivan has given his Buy rating due to a combination of factors that indicate strong future performance for Esco Technologies. The company has raised its price target to $190, largely due to improved organic operations and the anticipated closing of the SM&P acquisition, which is expected to significantly enhance Esco’s portfolio, particularly in the Naval sector. The company has also shown improved operational guidance for fiscal year 2025, increasing expectations for earnings per share to a range of $5.55 to $5.75, reflecting better than expected performance in key segments like Aerospace & Defense, Utility Solutions Group, and Test.
Furthermore, Esco Technologies has demonstrated robust sales growth across its divisions. The Aerospace & Defense segment saw a notable increase in sales, particularly in the Navy and commercial aerospace areas. Meanwhile, the Utility Solutions Group and Test segments also reported sales increases, supported by strong performance in power transmission and effective cost reduction measures, respectively. The positive outlook for these segments, combined with strategic acquisitions and organic growth, supports Sullivan’s Buy rating, as they are likely to drive continued success for Esco Technologies.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESE in relation to earlier this year.