Orbital ATK Inc. (OA) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “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. However, Orbital ATK’s reliance on third parties for raw materials, increasing cost of raw materials, supply disruptions and delay in the replacement of materials or adding raw material suppliers could have an adverse impact on its results.Further, budget deficits and political uncertainty make future defense budgets susceptible to cutbacks. This might impact Orbital ATK’s top line negatively, as it generates a significant portion of its revenues from U.S. defense establishments.”
A number of other analysts have also issued reports on the company. Deutsche Bank AG began coverage on Orbital ATK in a report on Thursday, September 1st. They issued a buy rating and a $100.00 target price on the stock. Jefferies Group reaffirmed a buy rating and issued a $100.00 target price on shares of Orbital ATK in a report on Friday, August 26th. Argus lowered Orbital ATK from a buy rating to a hold rating and set a $91.75 target price on the stock. in a report on Tuesday, August 23rd. Wells Fargo & Co. raised Orbital ATK from a market perform rating to an outperform rating in a report on Tuesday, August 23rd. Finally, KeyCorp lowered their target price on Orbital ATK from $106.00 to $98.00 and set an overweight rating on the stock in a report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Orbital ATK has an average rating of Buy and an average price target of $98.16.
Shares of Orbital ATK (NYSE:OA) opened at 74.77 on Monday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 13.94 and a beta of 0.02. Orbital ATK has a 12 month low of $67.04 and a 12 month high of $94.92. The firm has a 50-day moving average price of $76.00 and a 200 day moving average price of $83.51.
Orbital ATK (NYSE:OA) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.13 billion. Orbital ATK had a return on equity of 16.55% and a net margin of 5.94%. On average, analysts anticipate that Orbital ATK will post $5.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were given a $0.30 dividend. The ex-dividend date was Friday, September 2nd. This represents a $1.20 annualized dividend and a yield of 1.60%. Orbital ATK’s payout ratio is 27.15%.
A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Orbital ATK by 11.9% in the first quarter. State Street Corp now owns 1,589,791 shares of the company’s stock valued at $138,220,000 after buying an additional 168,675 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Orbital ATK by 5.1% in the first quarter. Geode Capital Management LLC now owns 367,054 shares of the company’s stock valued at $31,911,000 after buying an additional 17,943 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Orbital ATK by 7.7% in the first quarter. Lazard Asset Management LLC now owns 25,132 shares of the company’s stock valued at $2,184,000 after buying an additional 1,805 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Orbital ATK during the first quarter valued at about $1,650,000. Finally, Creative Planning increased its position in shares of Orbital ATK by 1.7% in the second quarter. Creative Planning now owns 5,421 shares of the company’s stock valued at $462,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
About Orbital ATK
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