|Bid||44.91 x 1100|
|Ask||44.95 x 3000|
|Day's Range||44.41 - 45.00|
|52 Week Range||19.73 - 48.70|
|Beta (3Y Monthly)||2.58|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 24, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.00|
Circor International Inc NYSE:CIRView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is low for CIR with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding CIR are favorable, with net inflows of $1.23 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Industrialsis falling. The rate of decline is very significant relative to the trend shown over the past year, and is accelerating. The rate of contraction may ease in the coming months, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
U.S. industrial manufacturer Crane Co said on Tuesday it was willing to adjust its $894 million offer for smaller rival Circor International Inc if its board was willing to engage in talks. Crane, which makes pumps and valves, made a hostile takeover bid for Circor in May after an earlier offer was rejected by Circor.
This rating action follows the announcement that Crane has launched a hostile take-over bid to acquire CIRCOR International, Inc. (B2, Stable) ("CIRCOR") in a transaction that would be valued at more than $1.7 billion. The review for downgrade reflects the uncertainty regarding timing, transaction execution, price, integration risks and financial leverage resulting from the proposed acquisition of CICOR. The review process will focus on Crane's financial profile, ability to deleverage following the proposed acquisition and potential synergies.
Crane made a bid for valve maker Circor, which has struggled as the price of oil fell. The bid could mean larger industrial companies are looking at the oil patch again as a source of growth.
Earnings, trial results, and acquisition activity were contributing factors to today's move higher for the stock market.
Shares of Circor International Inc. rocketed 43% in afternoon trade Tuesday, putting them on track for their biggest-ever one-day gain, after industrial products maker Crane Co. said it proposed buying the technology products and sub-systems company in deal valued at $1.7 billion. Under terms of the proposal, Crane would pay $45 a share in cash for each Circor share outstanding, a 47% premium to Monday's closing price of $30.66. Crane said the proposal was made on April 30, and Circor rejected the bid on May 13. "While we had hoped to complete a transaction privately, the Board's rejection of our proposal without comment or discussion led to our decision to make our proposal known to Circor shareholders so they can express their views directly to the Circor Board," said Crane Chief Executive Max Mitchell. "We believe that this business, which has great brands and products, has been meaningfully undermanaged for years." Circor responded to Crane's disclosure, saying it rejected Crane's proposal because it determined the proposal was "highly opportunistic, substantially undervalued Circor and its future prospects and did not constitute a basis for engaging in further dialogue with Crane at this time." Circor's stock has more than doubled (up 105%) year to date, but was still down 15% over the past 12 months, while the S&P 500 has gained 4.9% the past year.
soared nearly 40% to $42.87 Tuesday after industrial manufacturer Crane Co. offered to buy the smaller company in a deal valued at $1.7 billion. Under the proposal, Crane would pay $45 a share in cash for each Circor share outstanding, a 47% premium to Monday's closing price of $30.66.
The $45-a-share cash bid is a 47% premium to Monday’s closing price and values Burlington, Massachusetts-based Circor at about $1.7 billion, including debt, Crane said Tuesday in a statement, confirming an earlier Bloomberg report. Circor shares rose 40% at 1:25 p.m. in New York, giving the company a market value of about $853 million. Circor received the offer on April 30 and rejected because it was too low, Circor said.
U.S. industrial manufacturer Crane Co on Tuesday made a hostile takeover bid for smaller rival Circor International Inc for about $894 million, after an earlier offer was rejected by Circor's board. Crane's cash offer of $45 per share represents a premium of about 47% to Circor's closing price on Monday. Circor's shares jumped 48.4% to $45.44.
CIRCOR International, Inc. (CIR) (“CIRCOR”) today confirmed that it has previously received and rejected an unsolicited, non-binding proposal from Crane Co. (CR) (“Crane”) to acquire all the outstanding shares of CIRCOR common stock for $45 per share in cash. Crane’s proposal, which was publicized today, was received by CIRCOR on April 30, 2019. Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, CIRCOR’s board of directors carefully reviewed that proposal. Following that review, the board of directors unanimously rejected Crane’s proposal and determined that the proposal was highly opportunistic, substantially undervalued CIRCOR and its future prospects, and did not constitute a basis for engaging in further dialogue with Crane at this time.
Crane Co. (NYSE: CR ) announced Tuesday that it has submitted a proposal to the board of directors of CIRCOR International, Inc. (NYSE: CIR ) to acquire Circor for $45 per share in cash. The proposal represents ...
U.S. industrial products maker Crane Co said on Tuesday it has offered to buy smaller rival Circor International Inc in a deal valued at $1.7 billion. Crane's cash offer of $45 per share represents a premium ...
Insider Monkey finished processing more than 700 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of December 31st, 2018. In this article we are going to take a look at smart money sentiment towards CIRCOR International, Inc. (NYSE:CIR). CIRCOR International, Inc. (NYSE:CIR) was in 6 hedge […]
The Burlington, Massachusetts-based company said it had a loss of 42 cents per share. Earnings, adjusted for one-time gains and costs, were 38 cents per share. The results matched Wall Street expectations. ...
CIRCOR International, Inc. , a leading provider of flow control solutions and other highly engineered products for the Industrial, Energy and Aerospace & Defense markets, today announced financial results for the first quarter ended March 31, 2019.
Circor (CIR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
CIRCOR International, Inc. (NYSE:CIR) shareholders will doubtless be very grateful to see the share price up 39% in the last quarter. But that can't change the reality that over the longer term (five years), the returns have b...
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