Kratos Defense & Security Solutions (NASDAQ:KTOS) Stock Price Target Cut by Citizens Jmp

Kratos Defense & Security Solutions (NASDAQ:KTOS) had its price objective dropped by research analysts at Citizens Jmp from $105.00 to $70.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the aerospace company’s stock. Citizens Jmp’s price objective suggests a potential upside of 79.67% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Kratos Defense & Security Solutions from $134.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Guggenheim began coverage on shares of Kratos Defense & Security Solutions in a report on Monday, September 14th. They set a “buy” rating and a $74.00 target price for the company. Jefferies Financial Group cut Kratos Defense & Security Solutions from a “buy” rating to a “negative” rating in a research report on Monday. Piper Sandler upgraded Kratos Defense & Security Solutions from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded Kratos Defense & Security Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Kratos Defense & Security Solutions presently has an average rating of “Moderate Buy” and an average price target of $92.32.

Kratos Defense & Security Solutions Stock Down 0.5%

Shares of Kratos Defense & Security Solutions stock opened at $38.96 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.54 and a quick ratio of 4.99. The company has a 50-day moving average of $48.31 and a 200 day moving average of $54.09. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 81.60 and a beta of 1.11. Kratos Defense & Security Solutions has a 1 year low of $37.84 and a 1 year high of $134.00.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last issued its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. Kratos Defense & Security Solutions had a net margin of 2.03% and a return on equity of 3.07%. The company had revenue of $458.80 million during the quarter, compared to analysts’ expectations of $410.36 million. During the same period last year, the company posted $0.11 EPS. Kratos Defense & Security Solutions’s revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Kratos Defense & Security Solutions will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Scot Jarvis sold 10,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $63.50, for a total transaction of $635,000.00. Following the sale, the director directly owned 65,123 shares of the company’s stock, valued at approximately $4,135,310.50. This represents a 13.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven S. Fendley sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $56.16, for a total transaction of $393,120.00. Following the sale, the insider owned 288,111 shares of the company’s stock, valued at approximately $16,180,313.76. This represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 382,013 shares of company stock worth $23,856,842 over the last quarter. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in Kratos Defense & Security Solutions in the 2nd quarter valued at approximately $65,293,000. Bamco Inc. NY purchased a new stake in Kratos Defense & Security Solutions during the 2nd quarter valued at $53,746,000. American Capital Management Inc. purchased a new stake in Kratos Defense & Security Solutions during the 2nd quarter valued at $51,338,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Kratos Defense & Security Solutions in the 2nd quarter worth $34,842,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Kratos Defense & Security Solutions by 48.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,056,872 shares of the aerospace company’s stock worth $74,520,000 after purchasing an additional 342,789 shares in the last quarter. Institutional investors own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc is a technology and defense contractor that develops systems and products for national security applications. The company supports the U.S. Department of Defense, intelligence agencies, national security-related organizations and selected commercial customers, with an emphasis on affordable, rapidly deployable technologies.

Its offerings include unmanned aerial and target systems, hypersonic and high-speed systems, rocket and propulsion technologies, satellite communications equipment, microwave electronics, radar and missile-defense systems, electronic warfare solutions, command-and-control systems, and virtual and live training products.