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ESL

Esterline

$73.00

0.2 (0.27%)

17:39
10/18/16
10/18
17:39
10/18/16
17:39

Esterline in pact with First Pacific Advisors to increase board size

On October 18, Esterline Technologies entered into an Agreement with First Pacific Advisors and certain of its affiliates named therein, which beneficially own approximately 12.6% of the outstanding common stock of the Company. The following is a summary of the material terms of the Agreement. The summary does not purport to be complete and is qualified in its entirety by reference to the Agreement.. Pursuant to the Agreement, the Company agreed that the Board of Directors of the Company will increase its size to ten directors, and promptly following the execution of the Agreement, appoint Nils Larsen as a new independent director of the Company with a term expiring at the 2017 annual meeting of stockholders. The Board will also act to nominate the New Independent Director for election at the 2017 Annual Meeting for a further, regular three-year term expiring at the 2020 annual meeting of stockholders. In addition, it is currently anticipated that one of the directors whose term expires at the 2017 Annual Meeting intends to retire and cease any service as a director. As part of the process to select a candidate to replace the Retiring Director, FPA shall have the right to submit potential candidates to the Nominating and Corporate Governance Committee to be considered for election as a director at the 2017 Annual Meeting. The Nominating Committee shall give due and careful consideration to the FPA Candidates and share with FPA information pertaining to the other final proposed candidates it considers for the 2017 Director Nominee.

  • 17

    Nov

ESL Esterline
$73.00

0.2 (0.27%)

02/05/16
ADAM
02/05/16
DOWNGRADE
Target $75
ADAM
Hold
Esterline downgraded to Hold from Buy at Canaccord
Canaccord downgraded Esterline to Hold from Buy following Q1 results and lowered guidance. The firm wants to wait for more evidence of business improvement and for the market fundamentals to improve. Canaccord lowered its price target to $75 from $110 on Esterline shares.
02/05/16
02/05/16
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
08/15/16
DRXL
08/15/16
UPGRADE
DRXL
Buy
Esterline upgraded to Buy from Hold at Drexel Hamilton
08/15/16
08/15/16
UPGRADE
Target $86

Buy
Esterline upgraded to Buy at Drexel Hamilton
As previously reported, Drexel Hamilton upgraded Esterline to Buy from Hold and established an $86 price target. Following the Q3 report, Analyst Pete Skibitski views Esterline as a margin recovery story with good free-cash-flow, where one-off operating charges will be less impactful going forward.

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