Alliant Techsystems Trading Down 3.8% on Analyst Downgrade (ATK)
Alliant Techsystems (NYSE:ATK) shares fell 3.8% on Monday after RBC Capital lowered their price target on the stock from $170.00 to $155.00, AnalystRatings.NET reports. The company traded as low as $128.10 and last traded at $128.68, with a volume of 157,197 shares changing hands. The stock had previously closed at $133.77.
A number of other analysts have also recently weighed in on ATK. Analysts at JPMorgan Chase & Co. raised their price target on shares of Alliant Techsystems from $150.00 to $158.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Zacks downgraded shares of Alliant Techsystems from an “outperform” rating to a “neutral” rating in a research note on Friday, June 27th. They now have a $143.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $150.18.
The stock has a 50-day moving average of $133.8 and a 200-day moving average of $136.0. The company has a market cap of $4.112 billion and a P/E ratio of 12.43.
Alliant Techsystems (NYSE:ATK) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.44 by $0.42. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that Alliant Techsystems will post $11.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 25th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, August 29th.
Alliant Techsystems Inc (NYSE:ATK) is an aerospace, defense, and commercial products company that operates in 22 states, Puerto Rico, and internationally.
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