Orbital ATK, Inc. (OA) Rating Lowered to Hold at Argus
Argus lowered shares of Orbital ATK, Inc. (NYSE:OA) from a buy rating to a hold rating in a report released on Tuesday, MarketBeat.com reports.
Several other brokerages have also recently weighed in on OA. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and issued a $106.00 target price on shares of Orbital ATK in a report on Monday, June 5th. BidaskClub raised shares of Orbital ATK from a hold rating to a buy rating in a report on Saturday, July 8th. Zacks Investment Research cut shares of Orbital ATK from a hold rating to a sell rating in a report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a buy rating and issued a $122.00 target price (up previously from $115.00) on shares of Orbital ATK in a report on Friday, August 4th. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of Orbital ATK in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Orbital ATK presently has a consensus rating of Buy and a consensus price target of $117.00.
Shares of Orbital ATK (NYSE:OA) opened at 132.64 on Tuesday. Orbital ATK has a one year low of $71.52 and a one year high of $133.39. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 27.61 and a beta of -0.34. The company’s 50-day moving average is $108.83 and its 200-day moving average is $101.75.
Orbital ATK (NYSE:OA) last announced its earnings results on Thursday, August 3rd. The aerospace company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. Orbital ATK had a net margin of 6.11% and a return on equity of 15.62%. Orbital ATK’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 earnings per share. On average, equities analysts predict that Orbital ATK will post $6.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, September 1st. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%.
In other Orbital ATK news, insider Frank L. Jr. Culbertson sold 2,002 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $105.89, for a total transaction of $211,991.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas E. Mccabe sold 400 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $101.60, for a total transaction of $40,640.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,002 shares of company stock worth $316,492. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in OA. BlackRock Inc. grew its position in shares of Orbital ATK by 1.3% during the second quarter. BlackRock Inc. now owns 5,157,936 shares of the aerospace company’s stock worth $507,335,000 after acquiring an additional 67,560 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Orbital ATK by 1.5% during the second quarter. Vanguard Group Inc. now owns 4,824,620 shares of the aerospace company’s stock worth $474,550,000 after acquiring an additional 72,181 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Orbital ATK by 0.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,123,788 shares of the aerospace company’s stock worth $208,131,000 after acquiring an additional 8,339 shares during the last quarter. Iridian Asset Management LLC CT grew its position in shares of Orbital ATK by 5.6% during the second quarter. Iridian Asset Management LLC CT now owns 1,903,390 shares of the aerospace company’s stock worth $187,217,000 after acquiring an additional 100,824 shares during the last quarter. Finally, State Street Corp grew its position in shares of Orbital ATK by 3.1% during the second quarter. State Street Corp now owns 1,705,419 shares of the aerospace company’s stock worth $167,746,000 after acquiring an additional 51,590 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.
Orbital ATK Company Profile
Orbital ATK, Inc is an aerospace and defense systems company and supplier of related products to the United States Government, allied nations, prime contractors and other customers. The Company’s segments include Flight Systems Group, Defense Systems Group, Space Systems Group and Corporate. Its products include launch vehicles and related propulsion systems; satellites and associated components and services; tactical missiles, subsystems and defense electronics, and precision weapons, armament systems and ammunition.
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