Zacks Investment Research Upgrades DigitalGlobe Inc. (DGI) to “Buy”
DigitalGlobe Inc. (NYSE:DGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $36.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.21% from the company’s current price.
According to Zacks, “DigitalGlobe, Inc. is a global provider of commercial high-resolution earth imagery products and services. The company’s products include DigitalGlobe System, QuickBird satellite, ImageAtlas; and GlobeXplorer. DigitalGlobe System offers collection and archival of geospatial information data and QuickBird satellite, which provides commercial resolution imaging systems. DigitalGlobe operates a constellation of high resolution earth imaging satellites, possesses a growing aerial imagery network and offers a comprehensive geoinformation product store – DigitalGlobe.com – that allows quick access and order a wide variety of imagery and derivative information products. DigitalGlobe conducts its business through two segments: defense and intelligence, and commercial. Headquartered in Longmont, Colorado, the company operates as a subsidiary of Morgan Stanley & Co. Inc. “
A number of other brokerages have also issued reports on DGI. Dougherty & Co raised their target price on DigitalGlobe from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $32.00 price objective on shares of DigitalGlobe in a research note on Wednesday, August 31st. Jefferies Group reiterated a “buy” rating and set a $30.00 price objective on shares of DigitalGlobe in a research note on Tuesday, September 13th. Benchmark Co. reiterated a “hold” rating and set a $24.00 price objective (up previously from $20.00) on shares of DigitalGlobe in a research note on Wednesday, October 26th. Finally, JPMorgan Chase & Co. lifted their price objective on DigitalGlobe from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.38.
DigitalGlobe (NYSE:DGI) opened at 31.80 on Thursday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 51.13 and a beta of 0.23. The company’s 50-day moving average price is $26.55 and its 200-day moving average price is $24.23. DigitalGlobe has a 52 week low of $11.80 and a 52 week high of $32.55.
DigitalGlobe (NYSE:DGI) last issued its earnings results on Tuesday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.13. The company earned $181.80 million during the quarter, compared to analyst estimates of $171.92 million. DigitalGlobe had a return on equity of 3.71% and a net margin of 6.28%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. Equities analysts forecast that DigitalGlobe will post $0.59 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in shares of DigitalGlobe during the second quarter valued at $109,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in DigitalGlobe during the third quarter valued at about $169,000. Teacher Retirement System of Texas boosted its stake in DigitalGlobe by 12.1% in the second quarter. Teacher Retirement System of Texas now owns 9,115 shares of the company’s stock valued at $195,000 after buying an additional 985 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in DigitalGlobe during the third quarter valued at about $213,000. Finally, Suntrust Banks Inc. purchased a new stake in DigitalGlobe during the third quarter valued at about $220,000.
DigitalGlobe, Inc is a provider of high-resolution Earth-imagery products and services. The Company’s imagery solutions support a range of users in defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals and navigation technology.
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