Woodward

WWD · NASDAQ

$324.07−$5.23 (−1.59%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $329.30

WWD analyst rating

BuyConsensus of 10 analysts over the last 12 months. 90% rate it a buy.

Strong buy0
Buy9
Hold1
Underperform0
Sell0

12-month price target · 14 analysts

Average $447.99 (+38.2% upside)

Low: $408.04
Now: $324.07
High: $527.10

Upgrades and downgrades

The latest rating actions, newest first

WWD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 9, 2026	Maintains	Hold	$420.00 → $380.00	63%
Jefferies	Oct 2, 2026	Maintains	Buy	$450.00 → $420.00	55%
Wells Fargo	Sep 30, 2026	Maintains	Overweight	$440.00 → $430.00	69%
Guggenheim	Sep 15, 2026	Initiates	Buy	$404.00	71%
Truist Securities	Aug 4, 2026	Maintains	Buy	$415.00 → $420.00	0%
RBC Capital	Jul 30, 2026	Maintains	Outperform	$450.00 → $430.00	59%
RBC Capital	Jul 27, 2026	Maintains	Outperform	$450.00	59%
TD Cowen	Jul 13, 2026	Maintains	Hold	$390.00 → $420.00	63%
Susquehanna	May 26, 2026	Initiates	Positive	$423.00	56%
Truist Securities	May 5, 2026	Maintains	Buy	$404.00 → $415.00	0%

The case for and against

Updated Oct 15, 2026

Bull case

Woodward is favored because it sits at the intersection of several durable growth drivers, including commercial aerospace OEM, aftermarket services, defense demand, and data-center-linked power generation, giving it unusually diversified revenue exposure. Recent operating results underscore that strength, with 3Q26 total company sales up 21% y/y, adjusted EPS up 43% y/y, and F2Q26 revenues rising 23% to a record $1.09B, while Aerospace and Industrial sales grew 25% and 20%, respectively. The outlook is further supported by expanding margins, with Industrial core margins at 18%, Aerospace margins at 23.5% in FY26 guidance, and new capacity and MRO investments positioning the company to capture sustained demand growth.

Bear case

Woodward is exposed to outsized customer concentration, with roughly 36% of revenue coming from its top 5 customers and the Aerospace segment heavily tied to Boeing and Airbus production schedules, making results vulnerable to OEM build-rate slowdowns, pricing pressure, or program disruption. Its dependence on single-source suppliers and logistics support adds another layer of risk because any inflation, labor instability, or supplier distress could cause missed deliveries, revenue shortfalls, and even contractual liabilities rather than just higher costs. The current expansion cycle also looks cash-intensive, with CapEx set to roughly double or more y/y and Spartanburg not expected to be operational until 2027, so front-loaded spending is already weighing on free cash flow and could pressure returns if execution slips or demand cools.

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