CSRA (NYSE:CSRA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $35.00 target price on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential downside of 13.34% from the company’s previous close.

According to Zacks, “CSRA is the largest pure play government IT service provider. The company reported strong third-quarter fiscal 2018 results. Both earnings and revenues increased on a year-over-year basis. The company is benefiting from contract wins based on its deep domain knowledge and expertise in next-generation IT services. The company's partnerships with the likes of Amazon Web Services, ServiceNow, Microsoft, Cisco Systems, VMware and Oracle are expanding its service offerings thereby driving top-line growth. The company is also expected to benefit from increased spending in defense and various environmental programs. Backed by strong backlog, strategic partnerships and frequent contract wins the company’s long-term growth guidance is significantly positive in our view.”

CSRA has been the topic of several other reports. Royal Bank of Canada set a $37.00 price target on CSRA and gave the stock a “buy” rating in a report on Thursday, November 16th. Cowen reissued a “hold” rating and issued a $35.00 price objective on shares of CSRA in a research note on Wednesday, October 18th. TheStreet raised CSRA from a “c” rating to a “b-” rating in a research note on Monday, December 4th. Jefferies Group reissued a “hold” rating and issued a $33.00 price objective on shares of CSRA in a research note on Monday, January 8th. Finally, ValuEngine raised CSRA from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.70.

Shares of CSRA (NYSE CSRA) traded up $9.57 during midday trading on Monday, hitting $40.39. The stock had a trading volume of 30,585,248 shares, compared to its average volume of 1,883,366. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.04 and a current ratio of 1.04. CSRA has a 12-month low of $27.38 and a 12-month high of $40.58. The stock has a market capitalization of $5,052.13, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.81.

CSRA (NYSE:CSRA) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. CSRA had a return on equity of 68.98% and a net margin of 7.46%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. research analysts expect that CSRA will post 2.05 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC bought a new stake in CSRA during the 3rd quarter valued at $211,000. Intact Investment Management Inc. bought a new stake in CSRA during the 3rd quarter valued at $223,000. Boothbay Fund Management LLC bought a new stake in CSRA during the 3rd quarter valued at $234,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in CSRA during the 4th quarter valued at $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CSRA by 49.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,630 shares of the technology company’s stock valued at $258,000 after acquiring an additional 2,849 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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About CSRA

CSRA Inc is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies.

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