CSRA (CSRA) Upgraded to Strong-Buy at Zacks Investment Research

CSRA (NYSE:CSRA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $35.00 price target on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential downside of 13.34% from the company’s previous close.

According to Zacks, “CSRA is the largest pure play government IT service provider. The company reported strong third-quarter fiscal 2018 results. Both earnings and revenues increased on a year-over-year basis. The company is benefiting from contract wins based on its deep domain knowledge and expertise in next-generation IT services. The company's partnerships with the likes of Amazon Web Services, ServiceNow, Microsoft, Cisco Systems, VMware and Oracle are expanding its service offerings thereby driving top-line growth. The company is also expected to benefit from increased spending in defense and various environmental programs. Backed by strong backlog, strategic partnerships and frequent contract wins the company’s long-term growth guidance is significantly positive in our view.”

A number of other equities research analysts have also recently commented on CSRA. Wells Fargo & Co cut CSRA from an “outperform” rating to a “market perform” rating in a research note on Monday. Cowen reiterated a “hold” rating and set a $35.00 target price on shares of CSRA in a research note on Wednesday, February 7th. TheStreet upgraded CSRA from a “c” rating to a “b-” rating in a research note on Monday, December 4th. ValuEngine cut CSRA from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Jefferies Group set a $35.00 price objective on CSRA and gave the company a “hold” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.70.

CSRA (CSRA) traded up $9.57 during midday trading on Monday, reaching $40.39. 43,755,153 shares of the company traded hands, compared to its average volume of 2,467,281. CSRA has a twelve month low of $27.38 and a twelve month high of $40.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 4.39. The firm has a market cap of $5,052.13, a P/E ratio of 17.64, a P/E/G ratio of 1.59 and a beta of 1.81.

CSRA (NYSE:CSRA) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. CSRA had a net margin of 7.46% and a return on equity of 68.98%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $0.48 EPS. CSRA’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that CSRA will post 2.05 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Neuberger Berman Group LLC purchased a new position in CSRA during the 3rd quarter valued at about $211,000. Intact Investment Management Inc. purchased a new position in CSRA during the 3rd quarter valued at about $223,000. Boothbay Fund Management LLC purchased a new position in CSRA during the 3rd quarter valued at about $234,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in CSRA during the 4th quarter valued at about $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CSRA by 49.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,630 shares of the technology company’s stock valued at $258,000 after buying an additional 2,849 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

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About CSRA

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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