CSRA Inc. (CSRA) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of CSRA Inc. (NYSE:CSRA) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $36.00 price objective on the technology company’s stock.
According to Zacks, “CSRA is the largest pure play government IT service provider. The company’s deep domain knowledge and expertise in next-generation IT services is aiding it to win new contracts on a regular basis. This was evident from the recently announced first-quarter results. Additionally, partnerships with technology companies like Microsoft, Amazon and Oracle is a key growth driver. Moreover, anticipated improvement in federal spending is a positive for the company. However, near-term uncertainty over the renewal of Greenway contract and delay in TSA contract are headwinds. The lower recompete win rate is a concern in our view. Notably, the company has underperformed the industry on a year-to-date basis.”
Other research analysts also recently issued reports about the stock. Cowen and Company reaffirmed a market perform rating and issued a $35.00 target price (up from $32.00) on shares of CSRA in a research report on Thursday, August 10th. Royal Bank Of Canada increased their target price on shares of CSRA from $37.00 to $38.00 and gave the company an outperform rating in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $35.50.
CSRA (NYSE:CSRA) opened at 31.16 on Tuesday. The company has a 50-day moving average price of $32.47 and a 200 day moving average price of $30.58. The company has a market capitalization of $5.09 billion, a PE ratio of 16.23 and a beta of 1.94. CSRA has a 52-week low of $24.48 and a 52-week high of $33.67.
CSRA (NYSE:CSRA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. CSRA had a net margin of 6.36% and a return on equity of 101.22%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. Equities research analysts anticipate that CSRA will post $1.97 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 25th. CSRA’s payout ratio is currently 20.94%.
In other CSRA news, insider Lawrence B. Prior III acquired 49,500 shares of the stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $30.50 per share, with a total value of $1,509,750.00. Following the transaction, the insider now owns 76,270 shares of the company’s stock, valued at approximately $2,326,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David F. Keffer sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $30.08, for a total transaction of $601,600.00. Following the transaction, the chief financial officer now directly owns 8,202 shares in the company, valued at $246,716.16. The disclosure for this sale can be found here. Insiders have sold a total of 68,690 shares of company stock worth $647,416,633 over the last three months. 0.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of CSRA by 26.2% in the second quarter. Toronto Dominion Bank now owns 47,433 shares of the technology company’s stock valued at $1,506,000 after buying an additional 9,848 shares during the last quarter. Oak Associates Ltd. OH increased its stake in shares of CSRA by 7.9% in the second quarter. Oak Associates Ltd. OH now owns 327,408 shares of the technology company’s stock valued at $10,395,000 after buying an additional 24,030 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of CSRA by 43.6% in the second quarter. Public Employees Retirement System of Ohio now owns 76,605 shares of the technology company’s stock valued at $2,432,000 after buying an additional 23,250 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of CSRA during the second quarter valued at $436,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of CSRA by 700.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 65,132 shares of the technology company’s stock valued at $2,068,000 after buying an additional 56,997 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.
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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