Barrington Downgrades Woodward (WWD) to Hold

In a report released today, Christopher Howe from Barrington downgraded Woodward (WWDResearch Report) to Hold. The company’s shares closed last Tuesday at $126.00, close to its 52-week high of $127.91.

According to TipRanks.com, Howe is a 5-star analyst with an average return of 41.8% and a 73.5% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as Commercial Vehicle Group, Standex International, and Columbus Mckinnon.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Woodward with a $136.33 average price target, implying a 4.9% upside from current levels. In a report released today, Truist Financial also maintained a Hold rating on the stock with a $118.00 price target.

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Based on Woodward’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $538 million and net profit of $41.57 million. In comparison, last year the company earned revenue of $720 million and had a net profit of $53.37 million.

Based on the recent corporate insider activity of 37 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 WWD in relation to earlier this year. Most recently, in March 2021, Christopher Fawzy, the VP, Gen Counsel & Corp Sec of WWD sold 7,000 shares for a total of $838,250.

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Woodward, Inc. engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the Aerospace and Industrial segment. The Aerospace segment designs, manufactures, and services systems and products for the management of fuel, air, combustion and motion control. The Industrial segment includes the design and services systems and products for the management of fuel, air, fluids, gases, electricity, motion, and combustion. The company was founded by Amos W. Woodward in 1870 and is headquartered in Fort Collins, CO.