Kratos Defense & Security Solutions (NASDAQ:KTOS) Stock Gets Price Target Cut from Citizens Jmp

Key Points

• Citizens JMP cut Kratos’ price target from $105 to $70 while maintaining a “market outperform” rating, implying roughly 73% upside from the previous close.
• Analyst sentiment remains broadly positive: Kratos has a consensus “Moderate Buy” rating and an average price target of $92.32, despite the stock opening at $40.42 and trading near its 52-week low.
• Kratos reported strong quarterly results, with revenue rising 30.5% year over year to $458.8 million and earnings of $0.21 per share, beating consensus estimates of $0.14.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) had its price target dropped by stock analysts at Citizens Jmp from $105.00 to $70.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "market outperform" rating on the aerospace company's stock. Citizens Jmp's price objective suggests a potential upside of 73.18% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised Kratos Defense & Security Solutions from a "neutral" rating to an "overweight" rating and set a $75.00 target price for the company in a research report on Wednesday, August 5th. Barclays initiated coverage on Kratos Defense & Security Solutions in a report on Friday, October 9th. They set an "overweight" rating and a $90.00 target price on the stock. Citigroup reissued a "market outperform" rating on shares of Kratos Defense & Security Solutions in a research report on Monday. Guggenheim initiated coverage on Kratos Defense & Security Solutions in a research report on Monday, September 14th. They set a "buy" rating and a $74.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Kratos Defense & Security Solutions from $88.00 to $77.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Kratos Defense & Security Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $92.32.

Kratos Defense & Security Solutions Price Performance

Kratos Defense & Security Solutions stock opened at $40.42 on Monday. The firm has a fifty day moving average of $49.27 and a 200-day moving average of $54.52. Kratos Defense & Security Solutions has a 52-week low of $37.84 and a 52-week high of $134.00. The company has a quick ratio of 4.99, a current ratio of 5.54 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $7.59 billion, a P/E ratio of 237.76 and a beta of 1.11.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. Kratos Defense & Security Solutions had a net margin of 2.03% and a return on equity of 3.07%. The firm had revenue of $458.80 million during the quarter, compared to analysts' expectations of $410.36 million. During the same period in the prior year, the company earned $0.11 EPS. The firm's revenue was up 30.5% on a year-over-year basis. As a group, analysts predict that Kratos Defense & Security Solutions will post 0.58 EPS for the current year.

Insider Buying and Selling at Kratos Defense & Security Solutions

In other Kratos Defense & Security Solutions news, CFO Deanna Lund sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $48.78, for a total transaction of $341,460.00. Following the completion of the sale, the chief financial officer owned 273,511 shares in the company, valued at $13,341,866.58. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Phillip Carrai sold 6,500 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $39.86, for a total value of $259,090.00. Following the sale, the insider owned 169,196 shares in the company, valued at $6,744,152.56. This represents a 3.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 382,013 shares of company stock valued at $23,856,842. Company insiders own 1.50% of the company's stock.

Institutional Trading of Kratos Defense & Security Solutions

A number of hedge funds have recently made changes to their positions in KTOS. Harbor Investment Advisory LLC bought a new position in Kratos Defense & Security Solutions in the 2nd quarter valued at about $25,000. Vision Retirement LLC increased its stake in Kratos Defense & Security Solutions by 288.2% during the 1st quarter. Vision Retirement LLC now owns 427 shares of the aerospace company's stock valued at $30,000 after buying an additional 317 shares during the period. Compass Financial Management LLC bought a new stake in shares of Kratos Defense & Security Solutions during the 2nd quarter worth about $34,000. Versant Capital Management Inc raised its position in shares of Kratos Defense & Security Solutions by 61.9% during the 2nd quarter. Versant Capital Management Inc now owns 696 shares of the aerospace company's stock worth $35,000 after buying an additional 266 shares in the last quarter. Finally, IMG Wealth Management Inc. lifted its stake in shares of Kratos Defense & Security Solutions by 427.0% in the 1st quarter. IMG Wealth Management Inc. now owns 527 shares of the aerospace company's stock worth $37,000 after acquiring an additional 427 shares during the period. Institutional investors and hedge funds own 75.92% of the company's stock.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc is a technology company that develops products and systems for national security, defense, and commercial applications. Its offerings support unmanned systems, satellite communications, space operations, missile defense, hypersonic programs, launch systems, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C5ISR) missions.

The company provides unmanned aerial, ground, and maritime systems, including target drones and other autonomous platforms used for testing, training, and operational missions.

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