Leidos Holdings Inc. (LDOS) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Leidos Holdings Inc. (NYSE:LDOS) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $47.00 target price on the stock.
According to Zacks, “Leidos Holdings Inc. provides science and technology solutions. The company operates in four segments: Defense Solutions; Health, Energy and Civil Solutions; Intelligence and Cybersecurity Solutions, and Corporate and other. It serves in the areas of national security, engineering and health. Leidos Holdings Inc., formerly known as SAIC, Inc., is headquartered in McLean, Virginia. “
A number of other equities research analysts also recently weighed in on the company. Jefferies Group reaffirmed a hold rating on shares of Leidos Holdings in a research report on Monday, August 1st. Citigroup Inc. initiated coverage on Leidos Holdings in a research report on Tuesday, September 6th. They set a buy rating and a $47.00 price objective on the stock. Credit Suisse Group AG raised their price objective on Leidos Holdings from $53.00 to $55.00 and gave the company a neutral rating in a research report on Tuesday, August 2nd. Wells Fargo & Co. reaffirmed a hold rating on shares of Leidos Holdings in a research report on Monday, July 11th. Finally, Argus began coverage on Leidos Holdings in a research report on Wednesday, September 7th. They set a buy rating and a $54.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $50.71.
Leidos Holdings (NYSE:LDOS) traded up 0.31% on Wednesday, hitting $42.30. 581,741 shares of the company’s stock traded hands. The stock has a market cap of $3.08 billion, a P/E ratio of 11.12 and a beta of 1.38. Leidos Holdings has a 12 month low of $37.79 and a 12 month high of $59.52. The stock has a 50 day moving average price of $41.53 and a 200-day moving average price of $47.44.
Leidos Holdings (NYSE:LDOS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.05. Leidos Holdings had a net margin of 5.13% and a return on equity of 20.06%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Leidos Holdings will post $3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 16th. Leidos Holdings’s dividend payout ratio is currently 35.56%.
In related news, Director Surya N. Mohapatra purchased 3,575 shares of Leidos Holdings stock in a transaction that occurred on Tuesday, September 13th. The stock was bought at an average cost of $41.48 per share, for a total transaction of $148,291.00. Following the completion of the transaction, the director now owns 6,143 shares in the company, valued at $254,811.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Leidos Holdings by 0.7% in the first quarter. State Street Corp now owns 1,914,603 shares of the company’s stock valued at $96,346,000 after buying an additional 13,201 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Leidos Holdings during the first quarter valued at approximately $470,000. Springbok Capital Management LLC raised its stake in shares of Leidos Holdings by 1,140.4% in the first quarter. Springbok Capital Management LLC now owns 19,785 shares of the company’s stock valued at $996,000 after buying an additional 18,190 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Leidos Holdings by 20.2% in the first quarter. BlackRock Group LTD now owns 63,349 shares of the company’s stock valued at $3,188,000 after buying an additional 10,646 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Leidos Holdings during the second quarter valued at approximately $1,354,000. 61.04% of the stock is currently owned by institutional investors.
About Leidos Holdings
Leidos Holdings, Inc (Leidos) is a science and technology solutions company focused on delivering solutions primarily in the areas of national security, health and engineering. The Company is a holding company whose direct 100%-owned subsidiary is Leidos, Inc, which delivers science and technology solutions in the areas of national security, health and engineering to agencies of the United States Department of Defense (DoD), the intelligence community, the United States Department of Homeland Security, and other United States Government civil agencies, state and local government agencies, foreign governments and customers across a variety of commercial markets.
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