Carlisle Companies (NYSE:CSL) announced that its Board of Directors has approved a share buyback program, which allows the company to buyback 0 outstanding shares on Tuesday, February 5th. This buyback authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
A number of analysts recently commented on CSL shares. B. Riley set a $130.00 price target on Carlisle Companies and gave the stock a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research upgraded Carlisle Companies from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a report on Monday, December 31st. CIBC upgraded Carlisle Companies from a “market perform” rating to an “outperform” rating in a report on Monday, December 17th. Oppenheimer upgraded Carlisle Companies to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, January 16th. Finally, BMO Capital Markets dropped their price target on Carlisle Companies from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $123.00.
Shares of Carlisle Companies stock opened at $110.79 on Wednesday. The firm has a market cap of $6.56 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.05 and a beta of 0.99. Carlisle Companies has a 12 month low of $92.16 and a 12 month high of $129.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.55 and a current ratio of 3.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.44%. Carlisle Companies’s dividend payout ratio is currently 28.93%.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diversified manufacturing company. The company's Carlisle Construction Materials segment provides insulation materials; thermoplastic polyolefin, ehtylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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