Jefferies Group Reiterates “Buy” Rating for CSRA Inc. (CSRA)
CSRA Inc. (NYSE:CSRA)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a note issued to investors on Thursday. They currently have a $35.00 target price on the stock. Jefferies Group’s price target would suggest a potential upside of 36.24% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of CSRA from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Wells Fargo & Co. reissued an “outperform” rating and issued a $32.00 price target on shares of CSRA in a research report on Saturday, June 25th. SunTrust Banks Inc. reduced their price target on shares of CSRA from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, May 27th. Finally, Stifel Nicolaus reduced their price target on shares of CSRA from $41.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, May 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. CSRA has a consensus rating of “Buy” and an average price target of $33.22.
Shares of CSRA (NYSE:CSRA) opened at 25.69 on Thursday. The stock’s 50 day moving average is $26.06 and its 200 day moving average is $25.36. The stock has a market capitalization of $4.20 billion and a price-to-earnings ratio of 49.40. CSRA has a 1-year low of $20.98 and a 1-year high of $33.44.
CSRA (NYSE:CSRA) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The company earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. CSRA’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts forecast that CSRA will post $1.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%.
In other news, Director John M. Lawrie sold 48,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $26.47, for a total transaction of $1,270,560.00. Following the transaction, the director now directly owns 450,113 shares in the company, valued at $11,914,491.11. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lawrence B. Prior III purchased 3,918 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were purchased at an average price of $25.54 per share, for a total transaction of $100,065.72. Following the completion of the purchase, the insider now owns 20,614 shares of the company’s stock, valued at $526,481.56. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its stake in CSRA by 2.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 35,319 shares of the company’s stock worth $828,000 after buying an additional 794 shares in the last quarter. I.G. Investment Management LTD. increased its stake in CSRA by 4.9% in the second quarter. I.G. Investment Management LTD. now owns 315,186 shares of the company’s stock worth $7,385,000 after buying an additional 14,762 shares in the last quarter. Alpha Windward LLC increased its stake in CSRA by 233.8% in the second quarter. Alpha Windward LLC now owns 4,560 shares of the company’s stock worth $107,000 after buying an additional 3,194 shares in the last quarter. State Treasurer State of Michigan increased its stake in CSRA by 1.7% in the second quarter. State Treasurer State of Michigan now owns 47,673 shares of the company’s stock worth $1,117,000 after buying an additional 800 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in CSRA by 19.7% in the second quarter. Utah Retirement Systems now owns 29,733 shares of the company’s stock worth $696,000 after buying an additional 4,900 shares in the last quarter. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
CSRA Inc, formerly Computer Sciences Government Services Inc, is a provider of information technology services. The Company offers mission- and operations-related services across the United States federal government to Department of Defense (DoD), Intelligence Community and homeland security, civil and healthcare agencies.
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