Leidos (NYSE:LDOS) Trading Down 10.2% – Here’s Why

Leidos Holdings, Inc. (NYSE:LDOS) shares were down 10.2% during mid-day trading on Wednesday . The company traded as low as $174.67 and last traded at $174.7750. Approximately 735,716 shares changed hands during trading, a decline of 18% from the average daily volume of 891,816 shares. The stock had previously closed at $194.72.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LDOS shares. Wall Street Zen upgraded shares of Leidos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. UBS Group set a $204.00 target price on Leidos in a research note on Thursday, January 15th. Cantor Fitzgerald raised their price target on Leidos from $185.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Truist Financial reissued a “buy” rating and issued a $220.00 price target (up from $200.00) on shares of Leidos in a report on Tuesday, November 4th. Finally, Zacks Research downgraded Leidos from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.09.

Leidos Trading Down 11.1%

The business has a 50 day simple moving average of $189.11 and a two-hundred day simple moving average of $186.28. The company has a current ratio of 1.62, a quick ratio of 1.50 and a debt-to-equity ratio of 0.94. The company has a market cap of $22.13 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59.

Insider Buying and Selling

In other news, insider Elizabeth A. Porter sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $192.21, for a total transaction of $576,630.00. Following the completion of the transaction, the insider owned 38,575 shares of the company’s stock, valued at $7,414,500.75. This represents a 7.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Leidos

Several hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH grew its stake in shares of Leidos by 20.1% in the third quarter. Allianz Asset Management GmbH now owns 339,972 shares of the aerospace company’s stock valued at $64,241,000 after buying an additional 56,905 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in Leidos by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 233,470 shares of the aerospace company’s stock worth $44,116,000 after acquiring an additional 116,735 shares during the period. Bank of Nova Scotia grew its position in Leidos by 1,353.1% in the second quarter. Bank of Nova Scotia now owns 165,003 shares of the aerospace company’s stock valued at $26,031,000 after acquiring an additional 153,648 shares in the last quarter. LBP AM SA raised its stake in shares of Leidos by 43.8% during the third quarter. LBP AM SA now owns 63,211 shares of the aerospace company’s stock valued at $11,944,000 after purchasing an additional 19,268 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Leidos during the second quarter worth $1,026,000. 76.12% of the stock is owned by institutional investors and hedge funds.

About Leidos

Leidos is an American technology and engineering company that provides services and solutions to government and commercial customers, with a strong focus on national security, defense, intelligence, and civil government markets. The company delivers systems integration, engineering, cybersecurity, software development, data analytics, cloud migration and managed IT services, as well as mission support for complex programs. Leidos’ work spans areas such as C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance), secure communications, sensors and systems engineering, and health IT solutions for public-sector healthcare programs.

Leidos traces its corporate roots to Science Applications International Corporation (SAIC) and emerged as an independent, publicly traded company following a corporate separation in 2013.