Zacks Investment Research lowered shares of CSRA (NYSE:CSRA) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “CSRA is the largest pure play government IT service provider. The company is benefiting from contract wins based on its deep domain knowledge and expertise in next-generation IT services. The company's partnerships with the likes of Amazon Web Services, ServiceNow, Microsoft, Cisco Systems, VMware and Oracle are expanding its service offerings thereby driving top-line growth. The company is also expected to benefit from increased spending in defense and various environmental programs. Backed by strong backlog, strategic partnerships and frequent contract wins augur well for the company’s long-term growth. However, revenue concentration is a major risk for CSRA. The company’s top line growth remains susceptible to government’s IT spending. Furthermore, a leveraged balance sheet remains a concern. The company is set to be acquired by General Dynamics.”
A number of other analysts have also commented on the company. SunTrust Banks lowered CSRA from a buy rating to a hold rating and set a $40.75 price target on the stock. in a report on Wednesday, February 14th. Cowen reiterated a hold rating and set a $35.00 price target on shares of CSRA in a report on Wednesday, February 7th. Wells Fargo & Co lowered CSRA from an outperform rating to a market perform rating and set a $42.00 price target on the stock. in a report on Monday, February 12th. Drexel Hamilton lowered CSRA from a buy rating to a hold rating in a report on Tuesday, February 13th. Finally, Jefferies Group set a $35.00 price target on CSRA and gave the stock a hold rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $36.88.
CSRA (NYSE:CSRA) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.08. CSRA had a return on equity of 68.98% and a net margin of 7.46%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. sell-side analysts forecast that CSRA will post 2.04 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Advisor Group Inc. lifted its stake in CSRA by 18.6% during the fourth quarter. Advisor Group Inc. now owns 9,925 shares of the technology company’s stock worth $298,000 after purchasing an additional 1,560 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of CSRA by 12.2% in the 4th quarter. New Mexico Educational Retirement Board now owns 15,687 shares of the technology company’s stock valued at $469,000 after acquiring an additional 1,700 shares during the last quarter. Amalgamated Bank lifted its stake in shares of CSRA by 5.3% in the 4th quarter. Amalgamated Bank now owns 34,952 shares of the technology company’s stock valued at $1,046,000 after acquiring an additional 1,744 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of CSRA by 2.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 66,981 shares of the technology company’s stock valued at $2,161,000 after acquiring an additional 1,849 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in shares of CSRA by 5.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 35,548 shares of the technology company’s stock valued at $1,147,000 after acquiring an additional 1,996 shares during the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.
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CSRA Company Profile
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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