Zacks Investment Research Downgrades CSRA Inc. (CSRA) to Hold
CSRA Inc. (NYSE:CSRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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, the most recent one being a $115 million contract from the U.S. Environmental Protection Agency (EPA). 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.”
A number of other analysts also recently issued reports on CSRA. SunTrust Banks, Inc. raised CSRA from a “hold” rating to a “buy” rating and raised their target price for the stock from $34.00 to $39.00 in a research report on Friday. Royal Bank Of Canada reissued a “buy” rating on shares of CSRA in a research report on Tuesday, August 15th. Finally, Cowen and Company reissued 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. CSRA currently has an average rating of “Buy” and an average target price of $36.00.
CSRA (CSRA) opened at 31.98 on Friday. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 16.66 and a beta of 1.95. The firm has a 50-day moving average price of $32.07 and a 200-day moving average price of $30.71. CSRA has a one year low of $24.48 and a one year high of $33.67.
CSRA (NYSE:CSRA) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. CSRA had a return on equity of 101.22% and a net margin of 6.36%. CSRA’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. Analysts expect that CSRA will post $1.96 EPS for the current year.
In other news, EVP John Reing sold 20,298 shares of CSRA stock in a transaction on Friday, August 18th. The stock was sold at an average price of $31,822.00, for a total value of $645,922,956.00. Following the completion of the transaction, the executive vice president now directly owns 4,587 shares in the company, valued at $145,967,514. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George Batsakis sold 28,392 shares of CSRA stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.42, for a total value of $892,076.64. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of CSRA in the first quarter valued at $102,000. Northwestern Mutual Wealth Management Co. grew its position in shares of CSRA by 52.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,698 shares of the technology company’s stock valued at $117,000 after purchasing an additional 1,269 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of CSRA in the second quarter valued at $120,000. GLG Partners LP purchased a new position in shares of CSRA in the second quarter valued at $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CSRA by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,781 shares of the technology company’s stock valued at $184,000 after purchasing an additional 607 shares in the last quarter. Institutional investors own 92.43% of the company’s stock.
CSRA Company Profile
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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