StockNews.com Downgrades Espey Mfg. & Electronics (NYSEAMERICAN:ESP) to Buy

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Espey Mfg. & Electronics Trading Down 1.7 %

NYSEAMERICAN ESP opened at $29.63 on Thursday. The firm has a market cap of $82.67 million, a P/E ratio of 12.04 and a beta of 0.15. Espey Mfg. & Electronics has a fifty-two week low of $16.50 and a fifty-two week high of $33.00.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings data on Friday, September 27th. The company reported $0.73 EPS for the quarter. Espey Mfg. & Electronics had a return on equity of 15.95% and a net margin of 15.56%. The business had revenue of $11.61 million for the quarter.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,018 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a filing with the SEC, which is available through this link. 6.78% of the stock is currently owned by insiders.

Institutional Trading of Espey Mfg. & Electronics

Institutional investors have recently added to or reduced their stakes in the stock. De Lisle Partners LLP lifted its position in shares of Espey Mfg. & Electronics by 7.5% during the 3rd quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock worth $1,298,000 after purchasing an additional 3,000 shares during the last quarter. Ellsworth Advisors LLC lifted its position in shares of Espey Mfg. & Electronics by 6.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 23,977 shares of the company’s stock worth $721,000 after purchasing an additional 1,555 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of Espey Mfg. & Electronics during the 3rd quarter worth $219,000. Renaissance Technologies LLC lifted its position in shares of Espey Mfg. & Electronics by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock worth $2,370,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.