CSRA Inc. (NYSE:CSRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $37.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.94% from the company’s previous close.
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.”
Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada reissued a “buy” rating and set a $38.00 price objective on shares of CSRA in a research report on Sunday, August 6th. Cowen and Company reissued a “market perform” rating and set a $35.00 price objective (up previously from $32.00) on shares of CSRA in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.63.
CSRA (CSRA) traded down 0.98% during trading on Friday, hitting $32.19. 1,423,999 shares of the stock traded hands. The company has a market capitalization of $5.26 billion, a P/E ratio of 16.77 and a beta of 1.95. CSRA has a one year low of $24.48 and a one year high of $33.67. The company’s 50 day moving average is $32.23 and its 200 day moving average is $30.65.
CSRA (NYSE:CSRA) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. CSRA had a net margin of 6.36% and a return on equity of 101.22%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that CSRA will post $1.96 EPS for the current fiscal year.
In related news, EVP John Reing sold 20,298 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were 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 owns 4,587 shares of the company’s stock, valued at $145,967,514. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP George Batsakis sold 28,392 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.42, for a total transaction of $892,076.64. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CSRA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of CSRA by 5.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,800 shares of the technology company’s stock valued at $551,000 after acquiring an additional 1,045 shares during the period. Great West Life Assurance Co. Can grew its position in shares of CSRA by 3.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 269,580 shares of the technology company’s stock valued at $7,927,000 after acquiring an additional 7,947 shares during the period. APG Asset Management N.V. grew its position in shares of CSRA by 34.5% in the 1st quarter. APG Asset Management N.V. now owns 328,363 shares of the technology company’s stock valued at $9,618,000 after acquiring an additional 84,300 shares during the period. First Trust Advisors LP grew its position in shares of CSRA by 236.6% in the 1st quarter. First Trust Advisors LP now owns 431,360 shares of the technology company’s stock valued at $12,635,000 after acquiring an additional 303,208 shares during the period. Finally, American Century Companies Inc. grew its position in shares of CSRA by 51.8% in the 1st quarter. American Century Companies Inc. now owns 1,070,946 shares of the technology company’s stock valued at $31,368,000 after acquiring an additional 365,243 shares during the period. 92.43% of the stock is owned by institutional investors.
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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