Orbital ATK (OA) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Orbital ATK (NYSE:OA) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The firm currently has $148.00 price target on the aerospace company’s stock.
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 topic of a number of other reports. SunTrust Banks lowered Orbital ATK from a buy rating to a hold rating and set a $106.00 price target on the stock. in a report on Tuesday, September 19th. Wells Fargo & Co lowered Orbital ATK from an outperform rating to a market perform rating in a report on Friday, October 6th. CL King lowered Orbital ATK from a buy rating to a neutral rating in a report on Tuesday, September 19th. Cowen reaffirmed a hold rating and set a $134.50 target price on shares of Orbital ATK in a report on Wednesday, November 22nd. Finally, Jefferies Group lowered Orbital ATK from a buy rating to a hold rating and increased their price target for the company from $122.00 to $134.50 in a research report on Thursday, October 5th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $123.56.
Orbital ATK (NYSE:OA) last announced its quarterly earnings data on Thursday, November 2nd. The aerospace company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.19. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Orbital ATK had a return on equity of 17.32% and a net margin of 6.62%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. sell-side analysts predict that Orbital ATK will post 6.32 EPS for the current year.
In other news, Director Harrison H. Schmitt sold 1,500 shares of Orbital ATK stock in a transaction dated Tuesday, January 2nd. The stock was 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 Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Westchester Capital Management LLC bought a new position in Orbital ATK in the 3rd quarter worth approximately $5,635,000. 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 valued at $619,474,000 after acquiring an additional 42,211 shares in the last quarter. 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 valued at $507,335,000 after acquiring an additional 67,560 shares in the last quarter. Shelton Capital Management acquired a new stake in shares of Orbital ATK during the 2nd quarter valued at $432,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Orbital ATK by 1,721.6% during the 3rd quarter. Bessemer Group Inc. now owns 7,341 shares of the aerospace company’s stock valued at $978,000 after acquiring an additional 6,938 shares in the last quarter. 85.71% of the stock is currently owned by institutional investors and hedge funds.
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Orbital ATK Company Profile
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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