CIRCOR International, Inc. (CIR - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 13.3% in the past one-month time frame.
The move came after the company announced that it has inked a deal to acquire Colfax Fluid Handling from Colfax Corporation for roughly $855 million. The deal will expand the company’s product and service offering and strengthen its position as a leading provider of flow control solutions. The pro-forma combined revenues of both companies are expected to be roughly $1.1 billion on the basis of trailing 12-month results as of June 2017.
The company has seen three negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
CIRCOR International currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the Metal Products - Procurement and Fabrication industryis Kaiser Aluminum Corporation (KALU - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is KALU going up? Or down? Predict to see what others think:Up or Down
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