Kratos Defense & Security Solutions (NASDAQ:KTOS) Trading 3.3% Higher

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) shares shot up 3.3% on Wednesday . The company traded as high as $23.20 and last traded at $23.18. 244,207 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,133,917 shares. The stock had previously closed at $22.43.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KTOS. JMP Securities started coverage on shares of Kratos Defense & Security Solutions in a report on Tuesday, May 28th. They issued a “market outperform” rating and a $27.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Kratos Defense & Security Solutions from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. BTIG Research started coverage on shares of Kratos Defense & Security Solutions in a research note on Wednesday, June 26th. They set a “neutral” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their price target on Kratos Defense & Security Solutions from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Kratos Defense & Security Solutions Stock Performance

The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 69.22 and a beta of 1.02. The company has a current ratio of 3.13, a quick ratio of 2.56 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $20.06.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last announced its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Kratos Defense & Security Solutions had a net margin of 0.89% and a return on equity of 3.92%. The company had revenue of $300.10 million for the quarter, compared to analyst estimates of $276.08 million. During the same quarter in the prior year, the business posted $0.05 EPS. Kratos Defense & Security Solutions’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Kratos Defense & Security Solutions

In other Kratos Defense & Security Solutions news, insider Steven S. Fendley sold 7,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $21.09, for a total transaction of $147,630.00. Following the transaction, the insider now owns 384,160 shares in the company, valued at $8,101,934.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Deanna H. Lund sold 6,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief financial officer now owns 298,016 shares in the company, valued at approximately $5,960,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven S. Fendley sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $21.09, for a total value of $147,630.00. Following the completion of the sale, the insider now directly owns 384,160 shares in the company, valued at approximately $8,101,934.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,355 shares of company stock worth $1,545,240. 2.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kratos Defense & Security Solutions

Several hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC boosted its holdings in Kratos Defense & Security Solutions by 120,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,209 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 1,208 shares during the period. MFA Wealth Advisors LLC acquired a new stake in Kratos Defense & Security Solutions during the second quarter worth about $30,000. PNC Financial Services Group Inc. increased its stake in Kratos Defense & Security Solutions by 222.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,777 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 1,226 shares during the period. Point72 Hong Kong Ltd acquired a new position in Kratos Defense & Security Solutions in the 2nd quarter valued at approximately $36,000. Finally, NBC Securities Inc. bought a new position in Kratos Defense & Security Solutions in the first quarter worth $33,000. 75.92% of the stock is owned by institutional investors.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.