ESCO Technologies Up 11.5% After Hitting 52-Week High (ESE)

Shares of St. Louis, Missouri-based ESCO Technologies Inc. ESE are trading up 11.5% at $41.20 per share during the Friday afternoon trading session. The day's trading range for shares of ESCO Technologies Inc has been between $38.12 and a 52-week high of $43.15 per share. Analysts covering the company's stock give it a consensus price target of $41.29 per share. Volume of 328,000 shares is already more than triple the daily average volume of 98,000 shares. ESCO Technologies Inc. (ESE) announced on Thursday after the market closed that it beat consensus Wall Street expectations. ESCO Technologies Inc announced 1st quarter earnings per share of 40 cents, on revenue of $159.94 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 19 cents per share, on revenue of $142.08 million. Chairman and Chief Executive Officer Vic Richey said, "I'm extremely satisfied with our start for fiscal 2011 as we exceeded our internal operating goals. Our Utility Solutions Group continues its solid performance, and our ongoing investments in new products and advanced technologies continue to solidify our market position in the fast-growing Smart Grid area." Read more from Benzinga's Company news.