StockNews.com Downgrades Eastern (NASDAQ:EML) to Buy

Eastern (NASDAQ:EML) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Eastern Stock Down 3.6 %

Shares of NASDAQ:EML opened at $26.31 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $27.74 and a two-hundred day simple moving average of $29.30. Eastern has a 12-month low of $22.63 and a 12-month high of $35.78. The stock has a market capitalization of $162.60 million, a price-to-earnings ratio of -25.54 and a beta of 0.98.

Eastern (NASDAQ:EML) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter. The firm had revenue of $71.27 million during the quarter. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%.

Institutional Investors Weigh In On Eastern

Large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC bought a new position in shares of Eastern in the 3rd quarter worth approximately $1,667,000. Empowered Funds LLC increased its holdings in Eastern by 72.7% during the third quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock valued at $921,000 after buying an additional 11,952 shares during the last quarter. HighTower Advisors LLC bought a new position in Eastern in the third quarter worth approximately $231,000. BNP Paribas Financial Markets boosted its stake in shares of Eastern by 719.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 6,524 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in shares of Eastern by 15.9% during the 3rd quarter. De Lisle Partners LLP now owns 40,922 shares of the industrial products company’s stock valued at $1,320,000 after acquiring an additional 5,600 shares during the period. Institutional investors own 76.99% of the company’s stock.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.