Zacks Investment Research cut shares of Orbital ATK (NYSE:OA) from a buy rating to a hold rating in a research note released on Monday, January 8th.
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.”
OA has been the subject of several other research reports. ValuEngine lowered shares of Orbital ATK from a buy rating to a hold rating in a research report on Monday, October 2nd. Cowen reaffirmed a hold rating and set a $134.50 price objective on shares of Orbital ATK in a report on Tuesday, September 19th. Stifel Nicolaus lowered shares of Orbital ATK from a buy rating to a hold rating and raised their price objective for the stock from $120.00 to $134.50 in a report on Tuesday, September 19th. Argus lowered shares of Orbital ATK from a buy rating to a hold rating in a report on Tuesday, September 19th. Finally, Credit Suisse Group lowered shares of Orbital ATK from an outperform rating to a neutral rating in a report on Wednesday, November 8th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $123.56.
Orbital ATK (NYSE:OA) last announced its quarterly earnings data on Thursday, November 2nd. The aerospace company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.19. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.15 billion. Orbital ATK had a net margin of 6.62% and a return on equity of 17.32%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. equities analysts forecast 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 on Tuesday, January 2nd. The shares were sold at an average price of $131.60, for a total transaction of $197,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Orbital ATK by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,157,936 shares of the aerospace company’s stock worth $507,335,000 after buying an additional 67,560 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Orbital ATK by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,824,620 shares of the aerospace company’s stock worth $474,550,000 after buying an additional 72,181 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Orbital ATK by 0.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,652,101 shares of the aerospace company’s stock worth $619,474,000 after buying an additional 42,211 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Orbital ATK by 1.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,174,961 shares of the aerospace company’s stock worth $289,617,000 after buying an additional 32,351 shares during the period. Finally, State Street Corp boosted its holdings in shares of Orbital ATK by 3.1% during the 2nd quarter. State Street Corp now owns 1,705,419 shares of the aerospace company’s stock worth $167,746,000 after buying an additional 51,590 shares during the period. 85.71% of the stock is 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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