Orbital ATK, Inc. (OA) Upgraded to Hold at Zacks Investment Research
Orbital ATK, Inc. (NYSE:OA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Orbital ATK’s diverse product offering and its involvement in major development and production programs will continue to swell its order book. Orbital ATK’s ongoing R&D work will assist it to churn new products and further expand its defense and commercial market penetration. Shares of Orbital ATK have outperformed the Zacks categorized Aerospace-Defense Equipment industry over the last six months. However, Orbital ATK’s reliance on third parties for raw materials, increasing cost of raw materials and supply disruptions could have an adverse impact on its results. Moreover Orbital ATK is vulnerable to market risks from changes in foreign currency.”
A number of other research firms have also commented on OA. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $106.00 target price on shares of Orbital ATK in a report on Monday, June 5th. BidaskClub raised Orbital ATK from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Cowen and Company reissued a “buy” rating on shares of Orbital ATK in a report on Thursday, May 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $115.00 target price on shares of Orbital ATK in a report on Wednesday, April 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $103.28.
Orbital ATK (OA) traded down 0.03% during midday trading on Monday, hitting $101.90. The stock had a trading volume of 60,734 shares. The firm’s 50-day moving average price is $99.34 and its 200 day moving average price is $94.73. The company has a market cap of $5.88 billion, a P/E ratio of 21.01 and a beta of -0.32. Orbital ATK has a 12 month low of $67.04 and a 12 month high of $105.09.
Orbital ATK (NYSE:OA) last posted its quarterly earnings data on Thursday, May 11th. The aerospace company reported $1.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.14. Orbital ATK had a net margin of 5.86% and a return on equity of 15.34%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Orbital ATK will post $6.04 earnings per share for the current fiscal year.
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In other news, Director Harrison H. Schmitt sold 1,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $99.01, for a total value of $99,010.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David W. Thompson sold 5,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $104.71, for a total value of $523,550.00. Following the completion of the transaction, the insider now owns 97,939 shares in the company, valued at $10,255,192.69. The disclosure for this sale can be found here. Insiders have sold 16,994 shares of company stock worth $1,738,885 over the last quarter. 1.20% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in OA. Gilder Gagnon Howe & Co. LLC increased its position in shares of Orbital ATK by 3.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,037 shares of the aerospace company’s stock valued at $102,000 after buying an additional 35 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Orbital ATK by 9.6% in the second quarter. CENTRAL TRUST Co now owns 1,143 shares of the aerospace company’s stock valued at $112,000 after buying an additional 100 shares during the period. Stephens Inc. AR boosted its stake in shares of Orbital ATK by 6.1% in the first quarter. Stephens Inc. AR now owns 1,253 shares of the aerospace company’s stock valued at $123,000 after buying an additional 72 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Orbital ATK during the second quarter valued at about $128,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Orbital ATK by 23.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,207 shares of the aerospace company’s stock valued at $216,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 86.53% of the company’s stock.
About Orbital ATK
Orbital ATK, Inc is an aerospace and defense systems company and supplier of related products to the United States Government, allied nations, prime contractors and other customers. The Company’s segments include Flight Systems Group, Defense Systems Group, Space Systems Group and Corporate. Its products include launch vehicles and related propulsion systems; satellites and associated components and services; tactical missiles, subsystems and defense electronics, and precision weapons, armament systems and ammunition.
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