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Here's Why You Should Consider Investing in Carlisle (CSL)
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Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength in its businesses, strong product portfolio, acquired assets and a sound capital-deployment strategy.
The Zacks Rank #2 (Buy) company has a market capitalization of $12.5 billion. In the past six months, it has gained 16.4% against the industry’s decline of 17.6%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make the company investment-worthy at the moment.
Strength in Business: Carlisle has been benefiting from the strength in the reroofing market in the United States and the growing demand for energy-efficient building products in Europe. Strength in the company’s medical technologies business with solid backlog and recovery in the commercial aerospace business in the United States are likely to boost its performance in the coming quarters. Also, its initiatives related to product introductions and strength across its newer platforms of Sealants & Adhesives, Foam and Powder are likely to be beneficial. For 2022, it expects revenue growth of 25-30% on a year-over-year basis.
Benefits From Acquisitions: The company’s buyout of California-based Henry Company (September 2021) has been strengthening its product offerings for construction activities. It expects the Henry buyout to boost its earnings by $1.50 per share in 2022. Also, its decision to acquire MBTechnology, Inc. (February 2022) will likely strengthen its building products platform, boosting its energy-efficient solution offerings. Acquisitions contributed 4.8% and 12.9% to revenue growth in the third and fourth quarters of 2021, respectively.
Shareholder-Friendly Policies: It focuses on rewarding shareholders through share repurchases and dividend payouts. In 2021, the company repurchased shares worth $315.6 million and paid out dividends worth $112.5 million. Also, in August 2021, it hiked its quarterly dividend rate by 3%. At 2021-end, $5.1 million worth of shares under its authorization was left for repurchase.
Estimate Revisions: In the past 30 days, analysts have increasingly become bullish on the company, as evident from positive earnings estimate revisions. The Zacks Consensus Estimate for its 2022 earnings has trended up from $13.21 to $13.86 on one upward estimate revision against none downward. Over the same timeframe, the consensus estimate for 2023 earnings has jumped from $14.85 to $15.60 on one upward estimate revision versus none downward.
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Some other top-ranked companies are discussed below.
Griffon’s earnings estimates increased 9.9% for 2022 and 14.3% for 2023 in the past 30 days. Its shares have gained 1.9% in the past six months.
Franklin Electric Co., Inc. (FELE - Free Report) presently carries a Zacks Rank #1. Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have increased 10.9% for 2022. FELE’s shares have gained 5.6% in the past six months.
SPX FLOW, Inc. (FLOW - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 22%, on average.
SPX FLOW’s earnings estimates have increased 0.3% for 2022 and 0.2% for 2023 in the past 30 days. FLOW’s shares have gained 10.3% in the past six months.
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Here's Why You Should Consider Investing in Carlisle (CSL)
Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength in its businesses, strong product portfolio, acquired assets and a sound capital-deployment strategy.
The Zacks Rank #2 (Buy) company has a market capitalization of $12.5 billion. In the past six months, it has gained 16.4% against the industry’s decline of 17.6%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make the company investment-worthy at the moment.
Strength in Business: Carlisle has been benefiting from the strength in the reroofing market in the United States and the growing demand for energy-efficient building products in Europe. Strength in the company’s medical technologies business with solid backlog and recovery in the commercial aerospace business in the United States are likely to boost its performance in the coming quarters. Also, its initiatives related to product introductions and strength across its newer platforms of Sealants & Adhesives, Foam and Powder are likely to be beneficial. For 2022, it expects revenue growth of 25-30% on a year-over-year basis.
Benefits From Acquisitions: The company’s buyout of California-based Henry Company (September 2021) has been strengthening its product offerings for construction activities. It expects the Henry buyout to boost its earnings by $1.50 per share in 2022. Also, its decision to acquire MBTechnology, Inc. (February 2022) will likely strengthen its building products platform, boosting its energy-efficient solution offerings. Acquisitions contributed 4.8% and 12.9% to revenue growth in the third and fourth quarters of 2021, respectively.
Shareholder-Friendly Policies: It focuses on rewarding shareholders through share repurchases and dividend payouts. In 2021, the company repurchased shares worth $315.6 million and paid out dividends worth $112.5 million. Also, in August 2021, it hiked its quarterly dividend rate by 3%. At 2021-end, $5.1 million worth of shares under its authorization was left for repurchase.
Estimate Revisions: In the past 30 days, analysts have increasingly become bullish on the company, as evident from positive earnings estimate revisions. The Zacks Consensus Estimate for its 2022 earnings has trended up from $13.21 to $13.86 on one upward estimate revision against none downward. Over the same timeframe, the consensus estimate for 2023 earnings has jumped from $14.85 to $15.60 on one upward estimate revision versus none downward.
Other Stocks to Consider
Some other top-ranked companies are discussed below.
Griffon Corporation (GFF - Free Report) presently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. It delivered a four-quarter earnings surprise of 56.7%, on average.
Griffon’s earnings estimates increased 9.9% for 2022 and 14.3% for 2023 in the past 30 days. Its shares have gained 1.9% in the past six months.
Franklin Electric Co., Inc. (FELE - Free Report) presently carries a Zacks Rank #1. Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have increased 10.9% for 2022. FELE’s shares have gained 5.6% in the past six months.
SPX FLOW, Inc. (FLOW - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 22%, on average.
SPX FLOW’s earnings estimates have increased 0.3% for 2022 and 0.2% for 2023 in the past 30 days. FLOW’s shares have gained 10.3% in the past six months.