CSRA Inc. (CSRA) Lifted to “Buy” at SunTrust Banks, Inc.
CSRA Inc. (NYSE:CSRA) was upgraded by SunTrust Banks, Inc. from a “hold” rating to a “buy” rating in a research report issued on Friday, The Fly reports. The brokerage currently has a $39.00 price target on the technology company’s stock, up from their previous price target of $34.00. SunTrust Banks, Inc.’s price objective indicates a potential upside of 23.38% from the company’s previous close.
A number of other research analysts have also weighed in on CSRA. Zacks Investment Research upgraded CSRA from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, September 8th. Cowen and Company restated a “market perform” rating and set a $35.00 price objective (up previously from $32.00) on shares of CSRA in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $38.00 price objective on shares of CSRA in a research report on Sunday, August 6th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $36.00.
Shares of CSRA (CSRA) opened at 31.61 on Friday. CSRA has a 52 week low of $24.48 and a 52 week high of $33.67. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 16.46 and a beta of 1.95. The firm’s 50-day moving average price is $32.10 and its 200 day moving average price is $30.70.
CSRA (NYSE:CSRA) last issued 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. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. CSRA had a return on equity of 101.22% and a net margin of 6.36%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities research analysts forecast that CSRA will post $1.96 EPS for the current year.
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In other news, Director Craig L. Martin acquired 20,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $32.31 per share, with a total value of $646,200.00. Following the completion of the purchase, the director now directly owns 33,500 shares in the company, valued at $1,082,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP George Batsakis sold 28,392 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.42, for a total transaction of $892,076.64. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in CSRA by 0.4% in the second quarter. Vanguard Group Inc. now owns 19,408,917 shares of the technology company’s stock worth $616,233,000 after purchasing an additional 82,283 shares during the last quarter. FMR LLC lifted its stake in CSRA by 24.2% in the first quarter. FMR LLC now owns 16,529,060 shares of the technology company’s stock worth $484,137,000 after purchasing an additional 3,219,519 shares during the last quarter. William Blair Investment Management LLC lifted its stake in CSRA by 4.9% in the first quarter. William Blair Investment Management LLC now owns 9,515,724 shares of the technology company’s stock worth $278,716,000 after purchasing an additional 445,335 shares during the last quarter. BlackRock Inc. lifted its stake in CSRA by 2.0% in the second quarter. BlackRock Inc. now owns 8,520,575 shares of the technology company’s stock worth $270,528,000 after purchasing an additional 165,504 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its stake in CSRA by 16.7% in the first quarter. Causeway Capital Management LLC now owns 5,686,079 shares of the technology company’s stock worth $189,902,000 after purchasing an additional 815,575 shares during the last quarter. 92.43% of the stock is 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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