Raytheon Given New $87.00 Price Target at Jefferies Group (RTN)
Research analysts at Jefferies Group boosted their target price on shares of Raytheon (NYSE:RTN) from $66.00 to $87.00 in a report released on Tuesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 14.70% from the stock’s previous close.
Shares of Raytheon (NYSE:RTN) traded up 0.99% on Tuesday, hitting $76.60. The stock had a trading volume of 235,775 shares. Raytheon has a 52 week low of $52.24 and a 52 week high of $77.93. The stock has a 50-day moving average of $74.7 and a 200-day moving average of $65.25. The company has a market cap of $24.703 billion and a P/E ratio of 13.10.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 25th. The company reported $1.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.30 by $0.20. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Raytheon will post $5.66 EPS for the current fiscal year.
RTN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Raytheon (NYSE:RTN) in a research note to investors on Friday. They now have a $80.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of Raytheon (NYSE:RTN) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 26th. They now have a $77.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at UBS AG raised their price target on shares of Raytheon (NYSE:RTN) from $66.00 to $76.00 in a research note to investors on Friday, August 16th. They now have a “neutral” rating on the stock.
Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Hold” and a consensus price target of $72.13.
In other Raytheon news, VP Richard Goglia sold 5,175 shares of Raytheon stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.44, for a total transaction of $395,577.00. Following the completion of the sale, the vice president now directly owns 24,260 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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