Cowen and Company Reiterates Hold Rating for CSRA Inc. (CSRA)
Cowen and Company reissued their hold rating on shares of CSRA Inc. (NYSE:CSRA) in a research report report published on Monday morning. The brokerage currently has a $35.00 target price on the technology company’s stock.
“CSRA’s recent bookings momentum & pivot to organic growth are laudable, but.”,” Cowen and Company’s analyst wrote.
A number of other equities analysts also recently commented on CSRA. Zacks Investment Research downgraded CSRA from a buy rating to a hold rating in a research note on Friday, September 15th. Royal Bank Of Canada reiterated a buy rating and issued a $38.00 price target on shares of CSRA in a research note on Sunday, August 6th. Finally, SunTrust Banks, Inc. upgraded CSRA from a hold rating to a buy rating and lifted their price target for the stock from $34.00 to $39.00 in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $36.00.
Shares of CSRA (CSRA) opened at 32.09 on Monday. The company has a 50 day moving average price of $32.02 and a 200-day moving average price of $30.74. The firm has a market capitalization of $5.25 billion, a PE ratio of 16.71 and a beta of 1.95. CSRA has a 12 month low of $24.48 and a 12 month high of $33.67.
CSRA (NYSE:CSRA) last posted 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 during the quarter, compared to the consensus estimate of $1.24 billion. CSRA had a return on equity of 101.22% and a net margin of 6.36%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. Equities research analysts expect that CSRA will post $1.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, August 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. CSRA’s payout ratio is currently 20.94%.
In other CSRA news, EVP John Reing sold 20,298 shares of CSRA stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP George Batsakis sold 28,392 shares of CSRA stock in a transaction that occurred 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. Insiders own 0.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of CSRA. US Bancorp DE boosted its stake in CSRA by 95.0% in the first quarter. US Bancorp DE now owns 23,778 shares of the technology company’s stock valued at $696,000 after acquiring an additional 11,586 shares during the period. Suntrust Banks Inc. boosted its stake in CSRA by 10.0% in the first quarter. Suntrust Banks Inc. now owns 7,095 shares of the technology company’s stock valued at $206,000 after acquiring an additional 646 shares during the period. LS Investment Advisors LLC boosted its position in shares of CSRA by 28.5% during the first quarter. LS Investment Advisors LLC now owns 8,088 shares of the technology company’s stock worth $237,000 after buying an additional 1,796 shares during the period. World Asset Management Inc boosted its position in shares of CSRA by 19.8% during the first quarter. World Asset Management Inc now owns 16,472 shares of the technology company’s stock worth $482,000 after buying an additional 2,725 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of CSRA by 15.4% during the first quarter. UBS Asset Management Americas Inc. now owns 136,400 shares of the technology company’s stock worth $3,995,000 after buying an additional 18,161 shares during the period. Institutional investors own 92.42% of the company’s stock.
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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