Teledyne Technologies (TDY): New Buy Recommendation for This Technology Giant
In a report released yesterday, Ronald Epstein from Bank of America Securities maintained a Buy rating on Teledyne Technologies, with a price target of $705.00. The company’s shares closed yesterday at $672.42.
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Epstein covers the Industrials sector, focusing on stocks such as L3Harris Technologies, Aercap Holdings, and Boeing. According to TipRanks, Epstein has an average return of 21.8% and a 69.17% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Teledyne Technologies with a $689.13 average price target, implying a 2.49% upside from current levels. In a report released yesterday, Jefferies also maintained a Buy rating on the stock with a $770.00 price target.
Based on Teledyne Technologies’ latest earnings release for the quarter ending December 28, the company reported a quarterly revenue of $1.61 billion and a net profit of $275.6 million. In comparison, last year the company earned a revenue of $1.5 billion and had a net profit of $198.5 million
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDY in relation to earlier this year. Earlier this month, Jason Vanwees, the Vice Chairman of TDY sold 7,500.00 shares for a total of $4,730,744.20.
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