Zurcher Kantonalbank Zurich Cantonalbank Purchases 4,861 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Key Points

• Zurcher Kantonalbank has increased its stake in Kratos Defense & Security Solutions by 11.8%, acquiring an additional 4,861 shares, bringing its total to 46,128 shares valued at approximately $1.37 million.
• Analysts remain very optimistic about Kratos Defense, with the majority issuing buy ratings and price targets ranging from $50.00 to $70.00, reflecting a consensus rating of "Moderate Buy."
• Kratos Defense posted a quarterly earnings report showing a 12% increase in revenue year-over-year, along with earnings per share of $0.12, exceeding consensus estimates.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,128 shares of the aerospace company's stock after purchasing an additional 4,861 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kratos Defense & Security Solutions were worth $1,370,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of KTOS. Angeles Wealth Management LLC bought a new stake in Kratos Defense & Security Solutions during the first quarter valued at $261,000. Avantax Advisory Services Inc. raised its holdings in shares of Kratos Defense & Security Solutions by 50.8% during the first quarter. Avantax Advisory Services Inc. now owns 33,108 shares of the aerospace company's stock valued at $983,000 after purchasing an additional 11,147 shares during the period. AE Wealth Management LLC acquired a new position in shares of Kratos Defense & Security Solutions during the first quarter valued at about $214,000. Legato Capital Management LLC raised its holdings in shares of Kratos Defense & Security Solutions by 2.8% in the 1st quarter. Legato Capital Management LLC now owns 105,432 shares of the aerospace company's stock worth $3,130,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Kratos Defense & Security Solutions in the 1st quarter worth about $4,563,000. Institutional investors and hedge funds own 75.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Kratos Defense & Security Solutions from a "neutral" rating to a "buy" rating and set a $52.00 price objective for the company in a research report on Monday, June 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kratos Defense & Security Solutions in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Benchmark increased their target price on shares of Kratos Defense & Security Solutions from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Stifel Nicolaus increased their target price on shares of Kratos Defense & Security Solutions from $54.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Kratos Defense & Security Solutions currently has an average rating of "Moderate Buy" and an average target price of $50.08.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Steven S. Fendley sold 15,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $34.37, for a total transaction of $515,550.00. Following the transaction, the insider owned 384,492 shares of the company's stock, valued at approximately $13,214,990.04. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Deanna H. Lund sold 6,567 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $37.75, for a total transaction of $247,904.25. Following the transaction, the chief financial officer directly owned 318,766 shares in the company, valued at approximately $12,033,416.50. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,572 shares of company stock worth $5,644,656 in the last 90 days. Corporate insiders own 2.37% of the company's stock.

Kratos Defense & Security Solutions Price Performance

Shares of Kratos Defense & Security Solutions stock traded up $0.60 on Tuesday, hitting $60.10. 1,360,638 shares of the company traded hands, compared to its average volume of 3,256,735. The firm's 50-day simple moving average is $46.47 and its 200 day simple moving average is $36.80. The company has a current ratio of 2.84, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a market cap of $9.22 billion, a P/E ratio of 461.90 and a beta of 1.04. Kratos Defense & Security Solutions, Inc. has a 12-month low of $17.91 and a 12-month high of $62.80.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $302.60 million for the quarter, compared to analysts' expectations of $292.25 million. Kratos Defense & Security Solutions had a net margin of 1.68% and a return on equity of 3.85%. The business's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc engages in the provision of mission critical products, services and solutions for United States national security priorities. It operates through the Kratos Government Solutions (KGS) and Unmanned Systems (US) segments. The KGS segment consists of an aggregation of KGS operating segments, including microwave electronic products, space, satellite and cyber, training solutions.