CSRA (NYSE:CSRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “CSRA is the largest pure play government IT service provider. 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 augur well for the company’s long-term growth. However, revenue concentration is a major risk for CSRA. The company’s top line growth remains susceptible to government’s IT spending. Furthermore, a leveraged balance sheet remains a concern. The company is set to be acquired by General Dynamics.”
Several other equities research analysts have also issued reports on the stock. Drexel Hamilton lowered shares of CSRA from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Raymond James Financial restated a “market perform” rating on shares of CSRA in a report on Tuesday, February 13th. SunTrust Banks lowered shares of CSRA from a “buy” rating to a “hold” rating and set a $40.75 target price for the company. in a report on Wednesday, February 14th. Loop Capital lowered shares of CSRA from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Thursday, February 15th. Finally, Wells Fargo & Co lowered shares of CSRA from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.88.
CSRA (NYSE:CSRA) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.27 billion. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up 7.1% on a year-over-year basis. equities research analysts forecast that CSRA will post 2.04 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in CSRA. MetLife Investment Advisors LLC bought a new stake in shares of CSRA in the 4th quarter valued at about $1,516,000. PEAK6 Investments L.P. bought a new stake in shares of CSRA in the 4th quarter valued at about $1,190,000. Meadow Creek Investment Management LLC raised its holdings in shares of CSRA by 12.4% in the 4th quarter. Meadow Creek Investment Management LLC now owns 31,450 shares of the technology company’s stock valued at $941,000 after purchasing an additional 3,468 shares in the last quarter. Wolverine Trading LLC bought a new stake in shares of CSRA in the 4th quarter valued at about $420,000. Finally, Raymond James & Associates raised its holdings in shares of CSRA by 7.7% in the 4th quarter. Raymond James & Associates now owns 96,278 shares of the technology company’s stock valued at $2,881,000 after purchasing an additional 6,887 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.
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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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