Orbital ATK (NYSE:OA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
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.”
A number of other research firms have also weighed in on OA. Wells Fargo & Co lowered shares of Orbital ATK from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. TheStreet lowered shares of Orbital ATK from a “b” rating to a “c” rating in a research report on Wednesday, December 27th. Jefferies Group lowered shares of Orbital ATK from a “buy” rating to a “hold” rating and boosted their price target for the stock from $122.00 to $134.50 in a research report on Thursday, October 5th. Cowen restated a “hold” rating and set a $134.50 price target on shares of Orbital ATK in a research report on Wednesday, November 22nd. Finally, ValuEngine upgraded shares of Orbital ATK from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $123.56.
Shares of Orbital ATK (OA) traded down $0.26 during midday trading on Monday, hitting $131.75. 775,500 shares of the stock traded hands, compared to its average volume of 387,110. Orbital ATK has a 1-year low of $85.51 and a 1-year high of $134.59. The firm has a market capitalization of $7,615.13, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.18 and a beta of -0.23. The company has a current ratio of 1.87, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66.
Orbital ATK (NYSE:OA) last announced its earnings results on Thursday, November 2nd. The aerospace company reported $1.75 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. equities analysts expect that Orbital ATK will post 6.28 EPS for the current fiscal year.
In related 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 transaction of $197,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of OA. American Century Companies Inc. purchased a new position in Orbital ATK during the second quarter worth about $283,000. JPMorgan Chase & Co. raised its stake in Orbital ATK by 17.5% during the second quarter. JPMorgan Chase & Co. now owns 271,361 shares of the aerospace company’s stock worth $26,691,000 after purchasing an additional 40,380 shares during the period. BlackRock Inc. raised its stake in Orbital ATK by 1.3% during the second quarter. BlackRock Inc. now owns 5,157,936 shares of the aerospace company’s stock worth $507,335,000 after purchasing an additional 67,560 shares during the period. Amalgamated Bank raised its stake in Orbital ATK by 22.0% during the second quarter. Amalgamated Bank now owns 11,288 shares of the aerospace company’s stock worth $1,110,000 after purchasing an additional 2,036 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new position in Orbital ATK during the second quarter worth about $1,981,000. 85.71% of the stock is currently owned by institutional investors.
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About Orbital ATK
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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