Zacks Investment Research cut shares of Orbital ATK (NYSE:OA) from a buy rating to a hold rating in a report published on Tuesday, January 2nd.
According to Zacks, “Shares of Orbital ATK have outperformed the industry in the last 12 months. Orbital ATK’s diverse product offering and its involvement in major development and production programs will continue to swell its order book. Orbital ATK’s ongoing R&D work will assist it to churn new products and further expand its defense and commercial market penetration. The company will be acquired by Northrop Grumman for $9.2 billion and the transaction is expected to completed in first-half 2018. However, intense competition in the defense space, risk involved in operation, dependence on government budgets are potential growth deterrents for the company. Fluctuations in foreign currencies may also hurt this stock.”
Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Orbital ATK from a hold rating to a buy rating in a research note on Sunday, December 31st. TheStreet cut shares of Orbital ATK from a b rating to a c rating in a research note on Wednesday, December 27th. Wells Fargo & Co cut shares of Orbital ATK from an outperform rating to a market perform rating in a research note on Friday, October 6th. Stifel Nicolaus restated a buy rating on shares of Orbital ATK in a research report on Thursday, September 21st. Finally, Cowen restated a hold rating and set a $134.50 price objective on shares of Orbital ATK in a research report on Wednesday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $123.56.
Shares of Orbital ATK (NYSE OA) traded down $0.46 on Tuesday, hitting $132.14. 477,200 shares of the company traded hands, compared to its average volume of 325,686. The company has a market capitalization of $7,620.00, a P/E ratio of 24.47, a P/E/G ratio of 2.18 and a beta of 0.43. The company has a quick ratio of 1.66, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Orbital ATK has a 12 month low of $85.51 and a 12 month high of $134.59.
Orbital ATK (NYSE:OA) last issued its earnings results on Thursday, November 2nd. The aerospace company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.19. Orbital ATK had a net margin of 6.62% and a return on equity of 17.32%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. equities analysts predict that Orbital ATK will post 6.25 earnings per share for the current fiscal year.
In other news, Director Harrison H. Schmitt sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $131.60, for a total value of $197,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Orbital ATK by 0.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 11,145 shares of the aerospace company’s stock worth $1,096,000 after purchasing an additional 50 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Orbital ATK by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,394 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 187 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Orbital ATK by 1.9% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,110 shares of the aerospace company’s stock worth $861,000 after purchasing an additional 193 shares during the period. PNC Financial Services Group Inc. boosted its position in Orbital ATK by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,750 shares of the aerospace company’s stock valued at $763,000 after buying an additional 290 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in Orbital ATK by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,271 shares of the aerospace company’s stock valued at $1,699,000 after buying an additional 307 shares during the period. 85.75% of the stock is owned by hedge funds and other institutional investors.
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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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