We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Carlisle (CSL) Divests Interconnect Technologies Business
Read MoreHide Full Article
Carlisle Companies Incorporated (CSL - Free Report) recently completed the previously announced divestment of its Carlisle Interconnect Technologies (“CIT”) segment to Amphenol Corporation (APH - Free Report) . The transaction was valued at $2.025 billion.
Based in Wallingford, CT, Amphenol is a leading designer, manufacturer and marketer of electrical, electronic and fiber optic connectors primarily in the United States and China. Some of the notable products offered by the company are connectors and connector systems, busbars and power distribution systems, among others.
Carlisle’s CIT segment is engaged in designing and manufacturing high-performance wire and cable, fiber optic cable, avionics trays, integrated systems as well as complex cable assemblies for applications in the aerospace industry. Also, it provides engineered products for the defense industry that include applications for radar systems, missiles and electronic warfare systems as well as test and measurement solutions.
The divestment is in sync with CSL’s Vision 2030 strategy. This move will allow Carlisle to build a concentrated portfolio of construction materials businesses to accentuate its capital allocation approach to investments. Carlisle expects CIT to achieve long-term growth and profitability from this divestiture.
It’s worth noting that the company divested its Fluid Technologies segment in October 2023 and the Brake & Friction segment in August 2021 as part of its portfolio enhancement strategy.
Zacks Rank & Price Performance
Carlisle, with a $20.3 billion market capitalization, currently sports a Zacks Rank #1 (Strong Buy). The company is poised to benefit from the growing popularity of reroofing products, solid repair and remodel demand across the building envelope in commercial and residential markets, and synergies from buyouts. Contribution from the Carlisle Operating System and effective pricing actions are other tailwinds.
Image Source: Zacks Investment Research
The company’s shares have gained 20.9% against the industry’s 0.6% decline in the past three months.
The Zacks Consensus Estimate for CSL’s 2024 earnings has improved 8.2% over the last 60 days. It has a trailing four-quarter average earnings surprise of 7.6%.
Other Stocks to Consider
A couple of other top-ranked companies from the same space are discussed below.
It has a trailing four-quarter average earnings surprise of 33.5%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 4.8% in the past 60 days.
ITT Inc. (ITT - Free Report) currently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 6.5%. In the past 60 days, the consensus estimate for ITT’s 2024 earnings has inched up 1%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Carlisle (CSL) Divests Interconnect Technologies Business
Carlisle Companies Incorporated (CSL - Free Report) recently completed the previously announced divestment of its Carlisle Interconnect Technologies (“CIT”) segment to Amphenol Corporation (APH - Free Report) . The transaction was valued at $2.025 billion.
Based in Wallingford, CT, Amphenol is a leading designer, manufacturer and marketer of electrical, electronic and fiber optic connectors primarily in the United States and China. Some of the notable products offered by the company are connectors and connector systems, busbars and power distribution systems, among others.
Carlisle’s CIT segment is engaged in designing and manufacturing high-performance wire and cable, fiber optic cable, avionics trays, integrated systems as well as complex cable assemblies for applications in the aerospace industry. Also, it provides engineered products for the defense industry that include applications for radar systems, missiles and electronic warfare systems as well as test and measurement solutions.
The divestment is in sync with CSL’s Vision 2030 strategy. This move will allow Carlisle to build a concentrated portfolio of construction materials businesses to accentuate its capital allocation approach to investments. Carlisle expects CIT to achieve long-term growth and profitability from this divestiture.
It’s worth noting that the company divested its Fluid Technologies segment in October 2023 and the Brake & Friction segment in August 2021 as part of its portfolio enhancement strategy.
Zacks Rank & Price Performance
Carlisle, with a $20.3 billion market capitalization, currently sports a Zacks Rank #1 (Strong Buy). The company is poised to benefit from the growing popularity of reroofing products, solid repair and remodel demand across the building envelope in commercial and residential markets, and synergies from buyouts. Contribution from the Carlisle Operating System and effective pricing actions are other tailwinds.
Image Source: Zacks Investment Research
The company’s shares have gained 20.9% against the industry’s 0.6% decline in the past three months.
The Zacks Consensus Estimate for CSL’s 2024 earnings has improved 8.2% over the last 60 days. It has a trailing four-quarter average earnings surprise of 7.6%.
Other Stocks to Consider
A couple of other top-ranked companies from the same space are discussed below.
Griffon Corporation (GFF - Free Report) presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
It has a trailing four-quarter average earnings surprise of 33.5%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 4.8% in the past 60 days.
ITT Inc. (ITT - Free Report) currently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 6.5%. In the past 60 days, the consensus estimate for ITT’s 2024 earnings has inched up 1%.