Zacks Investment Research upgraded shares of Orbital ATK (NYSE:OA) from a hold rating to a buy rating in a research report report published on Wednesday, January 10th. The brokerage currently has $148.00 price target on the aerospace company’s stock.
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.”
Several other brokerages have also issued reports on OA. Wells Fargo & Co lowered Orbital ATK from an outperform rating to a market perform rating in a research report on Friday, October 6th. Jefferies Group lowered Orbital ATK from a buy rating to a hold rating and increased their price objective for the company from $122.00 to $134.50 in a report on Thursday, October 5th. ValuEngine lowered Orbital ATK from a buy rating to a hold rating in a report on Monday, October 2nd. Credit Suisse Group lowered Orbital ATK from an outperform rating to a neutral rating in a report on Wednesday, November 8th. Finally, Cowen reissued a hold rating and issued a $134.50 price objective on shares of Orbital ATK in a report on Tuesday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $123.56.
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 return on equity of 17.32% and a net margin of 6.62%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $1.15 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. equities analysts predict that Orbital ATK will post 6.28 earnings per share for the current fiscal year.
In related news, Director Harrison H. Schmitt sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was 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 can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH grew its holdings in Orbital ATK by 0.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 11,145 shares of the aerospace company’s stock worth $1,096,000 after acquiring an additional 50 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Orbital ATK by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,394 shares of the aerospace company’s stock worth $235,000 after acquiring an additional 187 shares during the period. PNC Financial Services Group Inc. grew its holdings in Orbital ATK by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 7,750 shares of the aerospace company’s stock worth $763,000 after acquiring an additional 290 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Orbital ATK by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 17,271 shares of the aerospace company’s stock worth $1,699,000 after acquiring an additional 307 shares during the period. Finally, Advisor Group Inc. grew its holdings in Orbital ATK by 3.5% during the second quarter. Advisor Group Inc. now owns 11,621 shares of the aerospace company’s stock worth $1,142,000 after acquiring an additional 396 shares during the period. 85.71% of the stock is currently owned by hedge funds and other 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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