Raytheon Stock Rating Reaffirmed by Zacks (RTN)
Raytheon (NYSE:RTN)‘s stock had its “hold” rating restated by Zacks in a research note issued on Wednesday, Stock Ratings Network.com reports. They currently have a $80.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 8.04% from the stock’s previous close.
Raytheon (NYSE:RTN) traded up 0.35% on Wednesday, hitting $74.31. The stock had a trading volume of 889,144 shares. Raytheon has a 52 week low of $52.24 and a 52 week high of $81.26. The stock has a 50-day moving average of $77.08 and a 200-day moving average of $68.60. The company has a market cap of $23.964 billion and a P/E ratio of 12.79.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 25th. The company reported $1.50 earnings per share for the quarter, beating the analysts’ 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 prior year, the company posted $1.41 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Raytheon will post $5.66 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Raytheon from $71.00 to $75.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Raytheon from $66.00 to $87.00 in a research note to investors on Tuesday, September 10th. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Raytheon 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. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.44.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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