Shares of Engility Holdings, Inc. (NYSE:EGL) dropped 16.4% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $27.76 and last traded at $27.93. Approximately 766,173 shares changed hands during trading, an increase of 542% from the average daily volume of 119,370 shares. The stock had previously closed at $33.41.

The aerospace company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.28). Engility Holdings had a net margin of 1.57% and a return on equity of 10.08%. The business had revenue of $487.10 million during the quarter, compared to analysts’ expectations of $496.84 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Engility Holdings’s revenue was down 4.8% on a year-over-year basis.

EGL has been the topic of several research analyst reports. Zacks Investment Research downgraded Engility Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Cowen and Company restated a “hold” rating on shares of Engility Holdings in a research report on Tuesday, July 11th. Noble Financial downgraded Engility Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded Engility Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, ValuEngine upgraded Engility Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $35.67.

In other Engility Holdings news, SVP Thomas O. Miiller sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $31.06, for a total transaction of $248,480.00. Following the sale, the senior vice president now directly owns 14,637 shares in the company, valued at $454,625.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Tobin sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $30.82, for a total value of $92,460.00. Following the sale, the director now owns 6,290 shares in the company, valued at $193,857.80. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its position in Engility Holdings by 45.7% during the third quarter. BNP Paribas Arbitrage SA now owns 12,787 shares of the aerospace company’s stock valued at $443,000 after purchasing an additional 4,010 shares during the period. Boston Partners purchased a new stake in Engility Holdings during the third quarter valued at approximately $13,468,000. IndexIQ Advisors LLC raised its position in Engility Holdings by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 29,949 shares of the aerospace company’s stock valued at $1,039,000 after purchasing an additional 13,594 shares during the period. Aperio Group LLC raised its position in Engility Holdings by 10.1% during the third quarter. Aperio Group LLC now owns 15,819 shares of the aerospace company’s stock valued at $549,000 after purchasing an additional 1,456 shares during the period. Finally, First Trust Advisors LP raised its position in Engility Holdings by 48.2% during the third quarter. First Trust Advisors LP now owns 23,412 shares of the aerospace company’s stock valued at $812,000 after purchasing an additional 7,613 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1,028.52, a PE ratio of 14.55 and a beta of 2.09.

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Engility Holdings Company Profile

Engility Holdings, Inc (Engility) is a provider of systems engineering services, training, program management, and operational support for the United States Government worldwide. The Company’s business is focused on providing a range of engineering, technical, analytical, advisory, training, logistics and support services.

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