Recent Insider Purchases at Kratos (KTOS) Highlight Value - Noble Financial
Get Alerts KTOS Hot Sheet
Price: $18.39 +1.43%
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
Join SI Premium – FREE
Noble Financial affirms Kratos Defense (Nasdaq: KTOS) with a Buy rating and $9 price target amdi a recent slew of insider purchases.
Analyst Mark Jordan noted the following:
- A Director of Kratos, Bandel Carano, has made his second direct open market purchase of the company's stock in less than 3 months; on August 27 he purchased 152,242 shares for $4.23 per share following a 150,000 share purchase on June 4 for $6.01
- Following the purchase on August 27, Director Carano directly owns 506,098 shares of common stock; additionally, his firm, Oak Investment Partners owns 11.8 million shares of the company (a 20.8% ownership position)
- The recent strategic review that led to the $260 million sales of the Electronics Products Group helped show that the company's assets were attractive and materially undervalued by the market: current asset values support our $9 price target
- There are two major catalysts for the stock this fall; the company should complete its 3 demonstration flights for the Navy and the Air Force is expected to award a UAV R&D contract by November; favorable news on these events would be transformative
- We reiterate our Buy rating and $9 price target; major developments in the company's UAV operations could increase this $100 business into a $200 to $400 million operation within 4 years
For an analyst ratings summary and ratings history on Kratos Defense & Security click here. For more ratings news on Kratos Defense & Security click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Monness, Crespi, Hardt Downgrades Palantir Technologies Inc. (PLTR) to Sell on 'egregiously rich valuation... darkest days of this economic downturn are ahead of us'
- AO World Plc. (AO/:LN) PT Raised to GBP1.25 at Jefferies
- BofA Securities Upgrades Estee Lauder (EL) to Buy; 'Earnings have bottomed'
Create E-mail Alert Related Categories
Analyst Comments, Insider TradesRelated Entities
Oak Investment Partners, Noble FinancialSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!