CSRA Inc. (CSRA) Rating Increased to Buy at Zacks Investment Research
CSRA Inc. (NYSE:CSRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $37.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.81% from the company’s current price.
According to Zacks, “CSRA is the largest pure play government IT service provider. The company’s deep domain knowledge and expertise in next-generation IT services is aiding it to win new contracts on a regular basis, the most recent one being a $115 million contract from the U.S. Environmental Protection Agency (EPA). Additionally, partnerships with technology companies like Microsoft, Amazon and Oracle is a key growth driver. Moreover, anticipated improvement in federal spending is a positive for the company. However, near-term uncertainty over the renewal of Greenway contract and delay in TSA contract are headwinds. The lower recompete win rate is a concern in our view. Notably, the company has underperformed the industry on a year-to-date basis.”
A number of other equities research analysts have also weighed in on CSRA. Cowen and Company reaffirmed a “market perform” rating and issued a $35.00 price objective (up previously from $32.00) on shares of CSRA in a report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $38.00 price objective on shares of CSRA in a report on Sunday, August 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.63.
CSRA (NYSE:CSRA) traded down 0.95% during trading on Friday, reaching $32.20. The company had a trading volume of 123,675 shares. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 16.77 and a beta of 1.95. The firm has a 50-day moving average of $32.27 and a 200-day moving average of $30.64. CSRA has a 1-year low of $24.48 and a 1-year high of $33.67.
CSRA (NYSE:CSRA) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. CSRA had a return on equity of 101.22% and a net margin of 6.36%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts anticipate that CSRA will post $1.96 EPS for the current fiscal year.
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In other news, EVP John Reing sold 20,298 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $31,822.00, for a total transaction of $645,922,956.00. Following the sale, the executive vice president now owns 4,587 shares of the company’s stock, valued at approximately $145,967,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig L. Martin purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $32.31 per share, for a total transaction of $646,200.00. Following the purchase, the director now directly owns 33,500 shares in the company, valued at $1,082,385. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of CSRA by 2.5% during the 1st quarter. State Street Corp now owns 5,264,072 shares of the technology company’s stock worth $154,192,000 after acquiring an additional 128,783 shares in the last quarter. Vista Equity Partners Management LLC boosted its stake in shares of CSRA by 36.0% during the 1st quarter. Vista Equity Partners Management LLC now owns 590,857 shares of the technology company’s stock worth $17,306,000 after acquiring an additional 156,434 shares in the last quarter. BlackRock Inc. boosted its stake in shares of CSRA by 5,792.2% during the 1st quarter. BlackRock Inc. now owns 8,355,071 shares of the technology company’s stock worth $244,721,000 after acquiring an additional 8,213,272 shares in the last quarter. United Services Automobile Association boosted its stake in shares of CSRA by 0.9% during the 1st quarter. United Services Automobile Association now owns 45,452 shares of the technology company’s stock worth $1,331,000 after acquiring an additional 387 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of CSRA during the 2nd quarter worth approximately $1,737,000. 92.43% of the stock is currently owned by institutional investors and hedge funds.
CSRA Company Profile
CSRA Inc is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies.
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