Leidos Holdings, Inc. (LDOS) Raised to Buy at Zacks Investment Research
Leidos Holdings, Inc. (NYSE:LDOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $60.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.79% from the stock’s previous close.
According to Zacks, “Leidos Holdings Inc. provides science and technology solutions. The company operates in four segments: Defense Solutions; Health, Energy and Civil Solutions; Intelligence and Cybersecurity Solutions, and Corporate and other. It serves in the areas of national security, engineering and health. Leidos Holdings Inc., formerly known as SAIC, Inc., is headquartered in McLean, Virginia. “
LDOS has been the subject of several other reports. Vertical Research started coverage on Leidos Holdings in a report on Thursday, March 16th. They issued a “buy” rating and a $67.00 price objective for the company. TheStreet raised Leidos Holdings from a “c” rating to a “b-” rating in a report on Friday, February 24th. Finally, Cowen and Company increased their price objective on Leidos Holdings from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.50.
Leidos Holdings (NYSE:LDOS) traded down 0.78% during mid-day trading on Thursday, reaching $51.86. 366,054 shares of the company were exchanged. Leidos Holdings has a 1-year low of $37.79 and a 1-year high of $55.25. The stock has a 50-day moving average of $52.18 and a 200 day moving average of $50.89. The firm has a market capitalization of $7.83 billion, a P/E ratio of 24.40 and a beta of 1.63.
Leidos Holdings (NYSE:LDOS) last posted its quarterly earnings data on Thursday, May 4th. The aerospace company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.54 billion. Leidos Holdings had a return on equity of 18.93% and a net margin of 5.36%. The company’s revenue was up 96.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. Equities research analysts forecast that Leidos Holdings will post $3.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, June 13th. Leidos Holdings’s payout ratio is currently 34.32%.
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In other news, Director John P. Jumper sold 42,381 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $53.73, for a total transaction of $2,277,131.13. Following the completion of the sale, the director now owns 253,318 shares in the company, valued at $13,610,776.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Leidos Holdings by 12,635.3% in the first quarter. BlackRock Inc. now owns 11,369,840 shares of the aerospace company’s stock valued at $581,454,000 after buying an additional 11,280,562 shares during the period. FMR LLC boosted its stake in Leidos Holdings by 76.7% in the first quarter. FMR LLC now owns 4,725,860 shares of the aerospace company’s stock valued at $241,680,000 after buying an additional 2,051,894 shares during the period. Wells Fargo & Company MN boosted its stake in Leidos Holdings by 2,704.7% in the third quarter. Wells Fargo & Company MN now owns 2,095,027 shares of the aerospace company’s stock valued at $90,672,000 after buying an additional 2,020,331 shares during the period. Norges Bank bought a new stake in Leidos Holdings during the fourth quarter valued at approximately $68,181,000. Finally, Morgan Stanley boosted its stake in Leidos Holdings by 144.3% in the third quarter. Morgan Stanley now owns 1,437,700 shares of the aerospace company’s stock valued at $62,223,000 after buying an additional 849,221 shares during the period. Institutional investors and hedge funds own 72.85% of the company’s stock.
About Leidos Holdings
Leidos Holdings, Inc (Leidos) is a science and technology solutions company focused on delivering solutions primarily in the areas of national security, health and engineering. The Company is a holding company whose direct 100%-owned subsidiary is Leidos, Inc, which delivers science and technology solutions in the areas of national security, health and engineering to agencies of the United States Department of Defense (DoD), the intelligence community, the United States Department of Homeland Security, and other United States Government civil agencies, state and local government agencies, foreign governments and customers across a variety of commercial markets.
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