Alliant Techsystems (NYSE:ATK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Friday. They currently have a $143.00 target price on the stock. Zacks‘s price target would indicate a potential upside of 6.78% from the stock’s previous close.
Zacks’ analyst wrote, “We have downgraded our recommendation on Alliant Techsystems Inc. to Neutral from Outperform. The downward revision was primarily due to uncertainties and expected curtailment on the upcoming U.S. Defense Budget. The curtailment of budget may impact the company’s existing contracts with the U.S. defense establishments in terms of cancellation or discontinuation of existing contracts, thereby impacting cash inflows. Moreover, risks associated with program execution and dependence on raw material suppliers and increased technological competitiveness are other probable downsides, which could obstruct the company’s growth trajectory. However, these negatives could be mitigated by the company’s stable cash generation capacity, disciplined capital investment program and positive outcomes from previous acquisitions.”
ATK has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. cut their price target on shares of Alliant Techsystems from $162.00 to $150.00 in a research note on Thursday, May 29th. Separately, analysts at Monness Crespi & Hardt downgraded shares of Alliant Techsystems from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, analysts at Goldman Sachs downgraded shares of Alliant Techsystems from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $146.00 price target on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $150.82.
Alliant Techsystems (NYSE:ATK) traded up 1.85% on Friday, hitting $136.40. 82,661 shares of the company’s stock traded hands. Alliant Techsystems has a 52 week low of $81.92 and a 52 week high of $158.13. The stock has a 50-day moving average of $133.9 and a 200-day moving average of $134.4. The company has a market cap of $4.345 billion and a P/E ratio of 12.85.
Alliant Techsystems (NYSE:ATK) last announced its earnings results on Thursday, May 15th. The company reported $2.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.40 by $0.50. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. Analysts expect that Alliant Techsystems will post $11.21 EPS for the current fiscal year.
Alliant Techsystems Inc (NYSE:ATK) is an aerospace, defense, and commercial products company that operates in 22 states, Puerto Rico, and internationally.
To view Zacks’ full report, visit Zacks’ official website.
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