Robert W. Baird analyst Timothy Wojs has maintained their bullish stance on CSL stock, giving a Buy rating yesterday.
Timothy Wojs has given his Buy rating due to a mix of strategic developments and financial maneuvers by Carlisle Companies. His optimism is rooted in the recent sale of Carlisle Companies’ CIT business, which aligns with the company’s shift towards a more focused building products entity. Despite the sale fetching a price slightly lower than anticipated, Wojs sees potential for the proceeds to be leveraged favorably, which may not be fully recognized in current consensus estimates.
The report indicates that the redeployment of the $2.025 billion from the sale could skew future earnings positively, especially with planned buybacks and the prospects of increased interest income. Moreover, Wojs predicts that the completion of Carlisle’s transition to a pure-play building products company should lead to stronger returns and a more attractive valuation as the market acknowledges the company’s solid positioning in re-roofing, free cash flow generation, and a higher return on invested capital.
Wojs covers the Industrials sector, focusing on stocks such as Carlisle Companies, Carrier Global, and Acuity Brands. According to TipRanks, Wojs has an average return of 6.6% and a 57.48% success rate on recommended stocks.
In another report released yesterday, Loop Capital Markets also maintained a Buy rating on the stock with a $375.00 price target.
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Carlisle Companies (CSL) Company Description:
Carlisle Cos., Inc. engages in the manufacture and distribution of engineered products for both original equipment and aftermarket channels. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction. The Carlisle Construction Materials segment includes the manufacture of insulation materials, rubber, thermoplastic polyolefin, and polyvinyl chloride roofing membranes; related roofing accessories; and waterproofing products. The Carlisle Interconnect Technologies segment focuses on the design and manufacture of wire, cable, connectors, contacts and cable assemblies for the transfer of power and data. The Carlisle Fluid Technologies segment deals with industrial liquid and powder finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings. The Carlisle Brake and Friction segment covers brakes and friction material and clutch and transmission friction material. The company was founded by Charles S. Moomy in 1917 and is headquartered in Scottsdale, AZ.
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