Zacks upgraded shares of Alliant Techsystems (NYSE:ATK) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday morning, Analyst Ratings Network.com reports. The firm currently has $120.00 price target on the stock.
Zacks’ analyst wrote, “We have upgraded our recommendation on Alliant Techsystems Inc. to Outperform from Neutral. The revision was driven by several factors, including the company’s favorable performance in the first quarter of fiscal 2014 and positive impacts from the acquisition of Caliber Company. This acquisition is expected to act as a vital growth driver with higher customer demand for sporting products gaining momentum in the U.S. In addition, Alliant’s constant focus on technological innovation will enable it to secure more domestic and foreign orders. In the first quarter of fiscal 2014, the company’s earnings per share and total revenues surpassed the Zacks Consensus Estimates. Favorable sales from the Aerospace and Sporting Groups helped to improve the company’s bottom line.”
Zacks has also updated their ratings on a number of other industrials stocks in the last week. The firm downgraded shares of Sypris Solutions Inc. from a neutral rating to an underperform rating. Their analysts now have a $3.00 price target on that stock. Also, Zacks upgraded shares of LMI Aerospace Inc. from an underperform rating to a neutral rating. Zacks now has a $14.20 price target on that stock.
ATK has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Alliant Techsystems from $75.00 to $104.00 in a research note to investors on Monday, August 5th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Alliant Techsystems from $97.00 to $104.00 in a research note to investors on Friday, August 2nd. Finally, analysts at Jefferies Group raised their price target on shares of Alliant Techsystems from $75.00 to $100.00 in a research note to investors on Friday, August 2nd. They now have a hold rating on the stock.
Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $93.45.
Alliant Techsystems (NYSE:ATK) traded down 1.83% on Tuesday, hitting $98.22. Alliant Techsystems has a 52-week low of $48.00 and a 52-week high of $101.13. The stock’s 50-day moving average is currently $90.87. The company has a market cap of $3.145 billion and a price-to-earnings ratio of 11.89.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 26th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, August 30th.
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 www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.