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Here's Why Carlisle (CSL) Stock is Up More Than 11% in a Year
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Carlisle Companies Incorporated (CSL - Free Report) shares have gained 11.9% in the past year against the industry’s 9.6% decline.
Let’s look into the factors driving the company’s performance.
What’s Aiding CSL?
The company is benefiting from its global footprint, focus on product launches and ability to penetrate different markets through acquisitions. CSL’s Carlisle Construction Materials (CCM) segment is gaining from strengthening reroofing activity. Also, the growing demand for energy-efficient building products bodes well for the segment. Growing demand in the medical market and commercial aerospace business set the stage for the Carlisle Interconnect Technologies (CIT) segment. The Carlisle Fluid Technologies (CFT) segment is being supported by the focus on product introductions, positive pricing and the growing backlog level.
With acquisitions in Germany and the Netherlands over the past few years, the company has become one of the major European manufacturers and suppliers of EPDM roofing systems. Its acquisition of MBTechnology, Inc. (February 2022) strengthened the CCM segment's building products platform, boosting its energy-efficient solution. Also, the Henry Company acquisition in September 2021 boosted Carlisle’s product offerings for construction activities. It is worth noting that acquisitions boosted revenues by 0.2% in fourth-quarter 2022.
Image Source: Zacks Investment Research
Under the Vision 2025 program, Carlisle looks forward to achieving above-market organic growth, acquiring new assets and leveraging its Carlisle Operating System (COS) to drive efficiencies through business processes apart from returning cash to its shareholders. Price realization, higher volumes and contribution from the COS increased the company’s operating margin by 320 basis points in fourth-quarter 2022.
Carlisle utilizes its cash flow to reward its shareholders through dividend payouts and share-repurchase programs. In 2022, Carlisle paid out dividends worth $134.4 million and repurchased shares for $400 million. Its quarterly dividend rate was hiked by 39% in August 2022.
Zacks Rank & Stocks to Consider
Carlisle carries a Zacks Rank #4 (Sell). Some better-ranked companies are discussed below:
Image: Bigstock
Here's Why Carlisle (CSL) Stock is Up More Than 11% in a Year
Carlisle Companies Incorporated (CSL - Free Report) shares have gained 11.9% in the past year against the industry’s 9.6% decline.
Let’s look into the factors driving the company’s performance.
What’s Aiding CSL?
The company is benefiting from its global footprint, focus on product launches and ability to penetrate different markets through acquisitions. CSL’s Carlisle Construction Materials (CCM) segment is gaining from strengthening reroofing activity. Also, the growing demand for energy-efficient building products bodes well for the segment. Growing demand in the medical market and commercial aerospace business set the stage for the Carlisle Interconnect Technologies (CIT) segment. The Carlisle Fluid Technologies (CFT) segment is being supported by the focus on product introductions, positive pricing and the growing backlog level.
With acquisitions in Germany and the Netherlands over the past few years, the company has become one of the major European manufacturers and suppliers of EPDM roofing systems. Its acquisition of MBTechnology, Inc. (February 2022) strengthened the CCM segment's building products platform, boosting its energy-efficient solution. Also, the Henry Company acquisition in September 2021 boosted Carlisle’s product offerings for construction activities. It is worth noting that acquisitions boosted revenues by 0.2% in fourth-quarter 2022.
Image Source: Zacks Investment Research
Under the Vision 2025 program, Carlisle looks forward to achieving above-market organic growth, acquiring new assets and leveraging its Carlisle Operating System (COS) to drive efficiencies through business processes apart from returning cash to its shareholders. Price realization, higher volumes and contribution from the COS increased the company’s operating margin by 320 basis points in fourth-quarter 2022.
Carlisle utilizes its cash flow to reward its shareholders through dividend payouts and share-repurchase programs. In 2022, Carlisle paid out dividends worth $134.4 million and repurchased shares for $400 million. Its quarterly dividend rate was hiked by 39% in August 2022.
Zacks Rank & Stocks to Consider
Carlisle carries a Zacks Rank #4 (Sell). Some better-ranked companies are discussed below:
Deere & Company (DE - Free Report) presently has a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Deere & Company’s earnings estimates have increased 6.4% for fiscal 2023. The stock has rallied 17.5% in the past year.
Ingersoll Rand Inc. (IR - Free Report) presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, Ingersoll Rand’s earnings estimates have increased 3.4% for 2023. The stock has gained 18.5% in the past year.
Parker-Hannifin Corporation (PH - Free Report) presently has a Zacks Rank of 2. PH’s earnings surprise in the last four quarters was 9.1%, on average.
In the past 60 days, Parker-Hannifin’s earnings estimates have increased 1.3% for fiscal 2023. The stock has rallied 21.9% in the past year.