Orbital ATK, Inc. (OA) Downgraded to Hold at Jefferies Group LLC
Orbital ATK, Inc. (NYSE:OA) was downgraded by analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a report issued on Thursday, The Fly reports.
A number of other equities research analysts have also commented on OA. BidaskClub upgraded shares of Orbital ATK from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research lowered shares of Orbital ATK from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating on shares of Orbital ATK in a report on Friday, August 4th. Argus upgraded shares of Orbital ATK from a “hold” rating to a “buy” rating and raised their price objective for the stock from $106.58 to $120.00 in a report on Monday, August 14th. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Orbital ATK from a “c” rating to a “b” rating in a report on Monday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $120.89.
Orbital ATK (OA) traded down 0.59% during trading on Thursday, hitting $133.77. 931,926 shares of the stock traded hands. The company’s 50 day moving average is $118.08 and its 200 day moving average is $104.64. Orbital ATK has a one year low of $71.52 and a one year high of $134.59. The company has a market capitalization of $7.71 billion, a P/E ratio of 27.85 and a beta of -0.30.
Orbital ATK (NYSE:OA) last posted its earnings results on Thursday, August 3rd. The aerospace company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.11. Orbital ATK had a net margin of 6.11% and a return on equity of 15.62%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $1.35 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Orbital ATK will post $6.18 EPS for the current fiscal year.
In other news, VP Thomas E. Mccabe sold 400 shares of Orbital ATK stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $101.60, for a total value of $40,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank L. Jr. Culbertson sold 2,002 shares of Orbital ATK stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $105.89, for a total transaction of $211,991.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,002 shares of company stock valued at $316,492. 1.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OA. CENTRAL TRUST Co grew its position in shares of Orbital ATK by 9.6% in the 2nd quarter. CENTRAL TRUST Co now owns 1,143 shares of the aerospace company’s stock valued at $112,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR grew its position in shares of Orbital ATK by 6.1% in the 1st quarter. Stephens Inc. AR now owns 1,253 shares of the aerospace company’s stock valued at $123,000 after acquiring an additional 72 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Orbital ATK in the 2nd quarter valued at about $128,000. ETF Managers Group LLC bought a new position in shares of Orbital ATK in the 2nd quarter valued at about $228,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Orbital ATK by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,394 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 187 shares during the period. 85.41% of the stock is owned by institutional investors.
Orbital ATK Company Profile
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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