Orbital ATK Inc. (OA) Shares Down 20.3%
Orbital ATK Inc. (NYSE:OA) shares fell 20.3% during mid-day trading on Wednesday . The company traded as low as $68.80 and last traded at $70.74, with a volume of 4,939,909 shares changing hands. The stock had previously closed at $88.77.
A number of research firms have recently issued reports on OA. Jefferies Group reiterated a “buy” rating on shares of Orbital ATK in a research note on Sunday, May 8th. TheStreet cut shares of Orbital ATK to a “hold” rating in a research report on Thursday, May 26th. Cowen and Company cut shares of Orbital ATK from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Goldman Sachs Group Inc. boosted their price objective on shares of Orbital ATK from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, April 12th. Finally, Zacks Investment Research upgraded shares of Orbital ATK from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $100.30.
The stock has a market capitalization of $4.15 billion and a P/E ratio of 13.19. The stock’s 50-day moving average is $86.15 and its 200 day moving average is $85.88.
Orbital ATK (NYSE:OA) last released its quarterly earnings results on Wednesday, August 10th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts expect that Orbital ATK Inc. will post $5.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, September 2nd.
In related news, CEO David W. Thompson sold 5,000 shares of Orbital ATK stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $87.02, for a total transaction of $435,100.00. Following the completion of the transaction, the chief executive officer now owns 102,255 shares of the company’s stock, valued at $8,898,230.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Frank L. Jr. Culbertson sold 550 shares of Orbital ATK stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $88.76, for a total transaction of $48,818.00. Following the transaction, the executive vice president now directly owns 26,002 shares of the company’s stock, valued at approximately $2,307,937.52. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in OA. Freestone Capital Holdings LLC increased its position in shares of Orbital ATK by 18.5% in the fourth quarter. Freestone Capital Holdings LLC now owns 13,342 shares of the company’s stock worth $1,192,000 after buying an additional 2,086 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Orbital ATK by 89.5% in the fourth quarter. GSA Capital Partners LLP now owns 13,347 shares of the company’s stock worth $1,192,000 after buying an additional 6,304 shares in the last quarter. WBI Investments Inc. purchased a new position in shares of Orbital ATK during the fourth quarter worth $1,591,000. Globeflex Capital L P purchased a new position in shares of Orbital ATK during the fourth quarter worth $1,727,000. Finally, I.G. Investment Management LTD. increased its position in shares of Orbital ATK by 6.2% in the fourth quarter. I.G. Investment Management LTD. now owns 26,570 shares of the company’s stock worth $2,374,000 after buying an additional 1,554 shares in the last quarter.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.