Kratos Defense & Security Solutions (NASDAQ:KTOS) Stock Price Target Cut by KeyCorp

Key Points

• KeyCorp cut its price target for Kratos Defense & Security Solutions from $130 to $75 while maintaining an “overweight” rating, implying 82.53% upside from the previous close.
• Analyst sentiment remains broadly positive but targets have declined: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $83.65.
• Kratos opened at $41.09, near the lower end of its 12-month range, despite strong quarterly results that exceeded earnings and revenue expectations and showed 30.5% year-over-year revenue growth.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) had its price target dropped by KeyCorp from $130.00 to $75.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the aerospace company's stock. KeyCorp's target price would indicate a potential upside of 82.53% from the stock's previous close.

Several other equities analysts have also issued reports on KTOS. Royal Bank Of Canada dropped their price target on Kratos Defense & Security Solutions from $80.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 28th. Piper Sandler lowered their target price on shares of Kratos Defense & Security Solutions from $75.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, October 23rd. BNP Paribas Exane upgraded shares of Kratos Defense & Security Solutions from a "neutral" rating to an "outperform" rating in a report on Thursday, October 8th. Truist Financial decreased their price objective on Kratos Defense & Security Solutions from $135.00 to $104.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Kratos Defense & Security Solutions from a "hold (c)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Kratos Defense & Security Solutions currently has an average rating of "Moderate Buy" and an average price target of $83.65.

Kratos Defense & Security Solutions Price Performance

NASDAQ:KTOS opened at $41.09 on Monday. Kratos Defense & Security Solutions has a 12-month low of $36.37 and a 12-month high of $134.00. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 241.71 and a beta of 1.18. The stock's 50 day moving average price is $45.16 and its two-hundred day moving average price is $64.76. The company has a quick ratio of 4.99, a current ratio of 5.54 and a debt-to-equity ratio of 0.04.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. The business had revenue of $458.80 million for the quarter, compared to analyst estimates of $410.36 million. Kratos Defense & Security Solutions had a net margin of 2.03% and a return on equity of 3.07%. Kratos Defense & Security Solutions's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts anticipate that Kratos Defense & Security Solutions will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Kratos Defense & Security Solutions

In related news, Director Scot B. Jarvis sold 10,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $63.50, for a total value of $635,000.00. Following the completion of the transaction, the director directly owned 65,123 shares of the company's stock, valued at approximately $4,135,310.50. This represents a 13.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marie Mendoza sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $48.50, for a total value of $48,500.00. Following the transaction, the senior vice president owned 61,200 shares of the company's stock, valued at approximately $2,968,200. This represents a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 377,013 shares of company stock valued at $23,564,182. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kratos Defense & Security Solutions

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Kratos Defense & Security Solutions in the second quarter valued at about $65,293,000. Bamco Inc. NY purchased a new position in Kratos Defense & Security Solutions in the 2nd quarter valued at about $53,746,000. American Capital Management Inc. purchased a new stake in Kratos Defense & Security Solutions in the 2nd quarter worth approximately $51,338,000. Paradigm Capital Management Inc. NY acquired a new position in Kratos Defense & Security Solutions in the second quarter valued at $34,842,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Kratos Defense & Security Solutions by 48.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,056,872 shares of the aerospace company's stock worth $74,520,000 after acquiring an additional 342,789 shares during the period. 75.92% of the stock is owned by institutional investors and hedge funds.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc is a technology and defense contractor that develops systems and products for national security applications. The company supports the U.S. Department of Defense, intelligence agencies, national security-related organizations and selected commercial customers, with an emphasis on affordable, rapidly deployable technologies.

Its offerings include unmanned aerial and target systems, hypersonic and high-speed systems, rocket and propulsion technologies, satellite communications equipment, microwave electronics, radar and missile-defense systems, electronic warfare solutions, command-and-control systems, and virtual and live training products.

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