Espey Mfg. announces new $19.8M contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 10 2025
0mins
Source: Business Insider
New Contract Award: Espey Mfg & Electronics has secured a $19.8M contract to provide electrical power transformers for the U.S. Navy's Virginia and Columbia class submarines, continuing their partnership with General Dynamics Electric Boat.
Columbia Class Submarine Importance: The Columbia class submarine is a priority for the Department of Defense as it aims to replace the aging Ohio class ballistic missile submarines.
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Analyst Views on ESP
Wall Street analysts forecast ESP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ESP is 80.00 USD with a low forecast of 80.00 USD and a high forecast of 80.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 55.150
Low
80.00
Averages
80.00
High
80.00
Current: 55.150
Low
80.00
Averages
80.00
High
80.00
No data
About ESP
Espey Mfg. & Electronics Corp. is primarily engaged in the business of development, design, and production of specialized military and industrial power supplies/transformers. The Company is a manufacturer of power conversion, advanced magnetics and build to specifications provided by the customer build to print products for the rugged industrial and military marketplace. Its primary products are power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, and antennas. The applications of these products include alternating current (AC) and direct current (DC) locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power. The Company produces individual components (including inductors), populates printed circuit boards, fabricates metalwork, paints, wires, qualifies, and fully tests items, mechanically, electrically and environmentally, in house.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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