CSRA Inc. (CSRA) Raised to “Buy” at Zacks Investment Research
CSRA Inc. (NYSE:CSRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $29.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.14% from the company’s previous close.
According to Zacks, “CSRA Inc. offer information technology services. The Company’s operating segments consists of Defense and Intelligence and Civil. Defense and Intelligence segment provides services to the DoD, National Security Agency, branches of the Armed Forces and other DoD agencies. Civil segment provides services to federal agencies within the Department of Homeland Security and other federal civil agencies as well as state and local agencies. CSRA Inc. is based in Falls Church, United States. “
Several other brokerages have also commented on CSRA. Wells Fargo & Co. restated an “outperform” rating and issued a $32.00 price objective on shares of CSRA in a report on Saturday, June 25th. Jefferies Group restated a “buy” rating and issued a $35.00 price objective on shares of CSRA in a report on Thursday, September 15th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. CSRA presently has an average rating of “Buy” and a consensus target price of $33.11.
CSRA (NYSE:CSRA) traded up 0.77% during midday trading on Wednesday, reaching $26.33. 841,510 shares of the company’s stock were exchanged. CSRA has a 12-month low of $20.98 and a 12-month high of $33.44. The company has a market cap of $4.31 billion and a price-to-earnings ratio of 50.63. The firm has a 50-day moving average price of $26.40 and a 200 day moving average price of $25.54.
CSRA (NYSE:CSRA) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts expect that CSRA will post $1.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Wednesday, August 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, August 29th.
In related news, insider Lawrence B. Prior III purchased 3,918 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were purchased at an average price of $25.54 per share, with a total value of $100,065.72. Following the acquisition, the insider now directly owns 20,614 shares in the company, valued at approximately $526,481.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lawrence B. Prior III purchased 3,810 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were bought at an average cost of $26.22 per share, for a total transaction of $99,898.20. Following the acquisition, the insider now owns 26,142 shares in the company, valued at $685,443.24. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in CSRA. Deltec Asset Management LLC bought a new stake in shares of CSRA during the third quarter worth about $538,000. MAI Capital Management bought a new stake in shares of CSRA during the third quarter worth about $258,000. Capstone Asset Management Co. increased its stake in shares of CSRA by 5.6% in the third quarter. Capstone Asset Management Co. now owns 10,451 shares of the company’s stock worth $281,000 after buying an additional 550 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of CSRA by 4.7% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 37,184 shares of the company’s stock worth $1,000,000 after buying an additional 1,677 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of CSRA by 5.0% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 123,643 shares of the company’s stock worth $3,326,000 after buying an additional 5,833 shares during the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
CSRA Company Profile
CSRA Inc is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies.
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