Buckingham analyst Neil Frohnapple started coverage of Carlisle with a $115 price target and a Buy rating. The analyst says that the stock has reached an attractive entry point, as he thinks that the shares will rise as investors reduce their focus on its "temporary headwinds" and concentrate more on its 2018 outlook and "longer term earnings potential." The analyst thinks that the company's 2018 EPS growth could approach 20%, and he believes that its EPS could reach $9 over the longer term.

Reports Q1 revenue $1.10B, consensus $996.1M. Chris Koch, CEO, says: "We were pleased with our overall sales growth and margin expansion during the first quarter which reinforces the underlying themes and key strategies we have outlined in Vision 2030. While still early in the year, our general market feedback indicates the overall construction markets we participate in will have a productive 2024 season. Growing re-roof activity from pent-up demand, favorable weather conditions fostering healthy construction activity, and normalized customer inventory levels all positively impacted our first quarter efforts. We are pleased that the margin expansion delivered in the second half of 2023 continues as we benefit from synergies from the Henry integration, our on-going COS initiatives, and operating efficiencies on higher volumes. Pricing continues to be in-line with our expectations, and we are optimistic on pricing for the balance of the year based on the recent price increases in the industry. After announcing our Vision 2030 plan in December of last year, we took the final step in delivering on our commitment to becoming a pure play building products company with the announced sale of CIT in January for approximately $2 billion to Amphenol. Furthermore, in March, we announced the signing of an agreement to acquire MTL, a specialty manufacturer of high-performance metal edge and wall systems. Both actions reinforce our commitment to our pure play building products strategy, our philosophy of superior capital allocation, and ultimately driving best-in-class ROIC. We are very excited with the planned acquisition of MTL which aligns seamlessly with Carlisle's Vision 2030 strategy to invest in and enhance our building envelope product portfolio."