Orbital ATK (OA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Orbital ATK (NYSE:OA) from a buy rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Shares of Orbital ATK have outperformed the industry in the last 12 months. 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. The company will be acquired by Northrop Grumman for $9.2 billion and the transaction is expected to completed in first-half 2018. However, intense competition in the defense space, risk involved in operation, dependence on government budgets are potential growth deterrents for the company. Fluctuations in foreign currencies may also hurt this stock.”

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus reaffirmed a buy rating on shares of Orbital ATK in a research report on Thursday, September 21st. ValuEngine raised shares of Orbital ATK from a hold rating to a buy rating in a research report on Sunday, December 31st. TheStreet cut shares of Orbital ATK from a b rating to a c rating in a research report on Wednesday, December 27th. Cowen reaffirmed a hold rating and set a $134.50 price target on shares of Orbital ATK in a research report on Tuesday, September 19th. Finally, SunTrust Banks cut shares of Orbital ATK from a buy rating to a hold rating and set a $106.00 price target on the stock. in a research report on Tuesday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $123.56.

Orbital ATK (NYSE OA) traded down $0.46 during trading on Monday, reaching $132.14. 477,200 shares of the company were exchanged, compared to its average volume of 325,686. Orbital ATK has a 52-week low of $85.51 and a 52-week high of $134.59. The stock has a market capitalization of $7,620.00, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 2.18 and a beta of 0.43. The company has a current ratio of 1.87, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66.

Orbital ATK (NYSE:OA) last released its earnings results on Thursday, November 2nd. The aerospace company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.19. Orbital ATK had a net margin of 6.62% and a return on equity of 17.32%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. Orbital ATK’s revenue was up 16.6% compared to the same quarter last year. analysts anticipate that Orbital ATK will post 6.25 EPS for the current fiscal year.

In related news, Director Harrison H. Schmitt sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $131.60, for a total value of $197,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Orbital ATK by 1.3% in the second quarter. BlackRock Inc. now owns 5,157,936 shares of the aerospace company’s stock valued at $507,335,000 after acquiring an additional 67,560 shares in the last quarter. Vanguard Group Inc. raised its holdings in Orbital ATK by 1.5% in the second quarter. Vanguard Group Inc. now owns 4,824,620 shares of the aerospace company’s stock valued at $474,550,000 after acquiring an additional 72,181 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Orbital ATK by 0.9% in the third quarter. First Eagle Investment Management LLC now owns 4,652,101 shares of the aerospace company’s stock valued at $619,474,000 after acquiring an additional 42,211 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Orbital ATK by 1.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,174,961 shares of the aerospace company’s stock valued at $289,617,000 after purchasing an additional 32,351 shares during the last quarter. Finally, State Street Corp increased its stake in Orbital ATK by 3.1% during the second quarter. State Street Corp now owns 1,705,419 shares of the aerospace company’s stock valued at $167,746,000 after purchasing an additional 51,590 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

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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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