Eastern (NASDAQ:EML) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, ValuEngine reports.

Shares of Eastern stock traded down $0.74 during trading on Friday, reaching $27.25. The company had a trading volume of 7,800 shares, compared to its average volume of 7,384. The firm has a market capitalization of $172.53 million, a P/E ratio of 13.37 and a beta of 0.86. The firm’s fifty day simple moving average is $26.27. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.73 and a current ratio of 3.50. Eastern has a fifty-two week low of $21.67 and a fifty-two week high of $30.95.

Eastern (NASDAQ:EML) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $60.88 million for the quarter. Eastern had a net margin of 5.51% and a return on equity of 13.56%.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in shares of Eastern by 539.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,157 shares of the industrial products company’s stock valued at $32,000 after buying an additional 976 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Eastern during the 1st quarter valued at about $152,000. Rhumbline Advisers bought a new stake in shares of Eastern during the 1st quarter valued at about $219,000. Bray Capital Advisors grew its position in shares of Eastern by 76.6% during the 4th quarter. Bray Capital Advisors now owns 11,800 shares of the industrial products company’s stock valued at $285,000 after buying an additional 5,120 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Eastern by 13.0% during the 4th quarter. Bank of America Corp DE now owns 15,535 shares of the industrial products company’s stock valued at $376,000 after buying an additional 1,791 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells industrial hardware, security products, and metal products in the United States and internationally. The company's Industrial Hardware segment offers passenger restraint and vehicular locks, latches, hinges, mirrors, mirror-cameras, light-weight sleeper boxes, and truck bodies for tractor-trailer trucks, specialty commercial vehicles, recreational vehicles, fire and rescue vehicles, school buses, military vehicles, and other vehicles.

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