Northrop Grumman Shares Gap Up on Analyst Upgrade (NOC)
Shares of Northrop Grumman (NYSE:NOC) gapped up before the market opened on Monday after Barclays raised their price target on the stock from $130.00 to $132.00, Analyst Ratings Net reports. The stock had previously closed at $122.64, but opened at $122.86. Barclays currently has an equal weight rating on the stock. Northrop Grumman shares last traded at $123.99, with a volume of 332,325 shares.
Other equities research analysts have also recently issued reports about the stock. Analysts at Argus upgraded shares of Northrop Grumman to a “hold” rating in a research note on Monday, July 28th. They now have a $115.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Northrop Grumman in a research note on Monday, July 28th. They now have a $130.00 price target on the stock, up previously from $128.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Northrop Grumman in a research note on Thursday, July 24th. They now have a $140.00 price target on the stock, up previously from $135.00. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $127.85.
In other Northrop Grumman news, CEO Wesley G. Bush sold 30,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The shares were sold at an average price of $123.96, for a total value of $3,718,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The stock has a 50-day moving average of $122.7 and a 200-day moving average of $120.7. The company has a market cap of $25.705 billion and a P/E ratio of 13.26.
Northrop Grumman (NYSE:NOC) last released its earnings data on Wednesday, July 23rd. The company reported $2.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.15. The company had revenue of $6.00 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter last year, the company posted $2.05 earnings per share. Northrop Grumman’s revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Northrop Grumman will post $9.41 earnings per share for the current fiscal year.
Northrop Grumman Corporation (NYSE:NOC) provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers.
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