Today’s Rating Alert: Science Applications (NYSE:SAIC) Hit With Downgrade by Citigroup, Is This a Concern?

November 29, 2016 - By Adrian Mccoy

Today's Rating Alert: Science Applications (NYSE:SAIC) Hit With Downgrade by Citigroup, Is This a Concern?

Science Applications (NYSE:SAIC) Downgrade

Citigroup downgraded shares of Science Applications (NYSE:SAIC) from a “Buy” rating to a “Neutral” rating in a a research report revealed to clients on 29 November.

Science Applications International Corp (NYSE:SAIC) Ratings Coverage

Out of 7 analysts covering Science Applications International (NYSE:SAIC), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $68 is the highest target while $50 is the lowest. The $62.80 average target is -24.82% below today’s ($83.53) stock price. Science Applications International has been the topic of 14 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Suntrust Robinson initiated the shares of SAIC in a report on Thursday, December 10 with “Buy” rating. The stock of Science Applications International Corp (NYSE:SAIC) earned “Hold” rating by BB&T Capital on Monday, June 13. The stock has “Buy” rating given by BB&T Capital on Tuesday, July 28. The stock of Science Applications International Corp (NYSE:SAIC) has “Buy” rating given on Wednesday, January 20 by Jefferies. Drexel Hamilton upgraded the shares of SAIC in a report on Friday, November 11 to “Buy” rating. The company was downgraded on Friday, September 9 by Drexel Hamilton. Wells Fargo upgraded the shares of SAIC in a report on Thursday, January 7 to “Outperform” rating. As per Wednesday, September 2, the company rating was upgraded by Citigroup. SunTrust initiated it with “Buy” rating and $58 target price in Thursday, December 10 report. Citigroup maintained Science Applications International Corp (NYSE:SAIC) rating on Wednesday, June 8. Citigroup has “Buy” rating and $64 price target.

About 55,077 shares traded hands. Science Applications International Corp (NYSE:SAIC) has risen 56.52% since April 26, 2016 and is uptrending. It has outperformed by 51.27% the S&P500.

Analysts await Science Applications International Corp (NYSE:SAIC) to report earnings on December, 8 before the open. They expect $0.84 earnings per share, up 15.07% or $0.11 from last year’s $0.73 per share. SAIC’s profit will be $37.11 million for 24.86 P/E if the $0.84 EPS becomes a reality. After $0.85 actual earnings per share reported by Science Applications International Corp for the previous quarter, Wall Street now forecasts -1.18% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.46 in Q2 2016. Its up 0.51, from 0.95 in 2016Q1. The ratio is positive, as 28 funds sold all Science Applications International Corp shares owned while 83 reduced positions. 26 funds bought stakes while 79 increased positions. They now own 27.21 million shares or 3.53% less from 28.21 million shares in 2016Q1.

The Florida-based Ladenburg Thalmann Finance has invested 0% in Science Applications International Corp (NYSE:SAIC). Clarivest Asset Mngmt Limited Liability Company has 68,180 shares for 0.12% of their US portfolio. Hillsdale Inv Mngmt holds 0.13% of its portfolio in Science Applications International Corp (NYSE:SAIC) for 7,400 shares. Wells Fargo And Mn has invested 0% of its portfolio in Science Applications International Corp (NYSE:SAIC). Moreover, Virginia Retirement System Et Al has 0.01% invested in Science Applications International Corp (NYSE:SAIC) for 14,300 shares. Css Il holds 0.02% of its portfolio in Science Applications International Corp (NYSE:SAIC) for 4,871 shares. Whittier Co Of Nevada last reported 0.01% of its portfolio in the stock. Phocas Financial owns 181,136 shares or 0.77% of their US portfolio. Timessquare Capital Llc has 965,000 shares for 0.37% of their US portfolio. Moreover, Prospector Partners Limited Liability Corporation has 1.17% invested in Science Applications International Corp (NYSE:SAIC) for 118,000 shares. Bank Of America Corp De holds 162,968 shares or 0% of its portfolio. Omers Administration accumulated 12,900 shares or 0.02% of the stock. Credit Suisse Ag reported 76,167 shares or 0% of all its holdings. Amer Grp Inc has 0% invested in the company for 102,691 shares. Prudential Incorporated holds 206,929 shares or 0.02% of its portfolio.

Insider Transactions: Since June 15, 2016, the stock had 0 insider buys, and 5 sales for $3.88 million net activity. 2,160 shares were sold by Bishop Maria M., worth $150,446. The insider Moraco Anthony J sold 38,821 shares worth $2.58 million. Shares for $160,264 were sold by WAGONER DOUGLAS MARTIN. The insider Hartley John Robert sold 13,000 shares worth $740,251.

Science Applications International Corporation is a well-known provider of technical, engineering and enterprise information technology (IT) services. The company has a market cap of $3.69 billion. The Firm provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies. It has a 29.56 P/E ratio. The Firm provides engineering, systems integration and information technology offerings for government projects, and offers a range of services with a targeted emphasis on higher-end, differentiated technology services.

According to Zacks Investment Research, “Science Applications International Corp. is engaged in transaction, technical, engineering and enterprise IT services business. The Company provides services in two segments: government segment and commercial segment. Its government segment servers primarily to United States federal, state and local government agencies and foreign governments. The commercial segment provides technology-driven consulting and systems integration services and solutions. Science Applications International Corp. is headquartered in McLean, VA.”

SAIC Company Profile

Science Applications International Corporation (SAIC), incorporated on February 1, 2013, is a well-known provider of technical, engineering and enterprise information technology (IT) services. The Firm provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies. The Firm provides engineering, systems integration and information technology offerings for government projects, and offers a range of services with a targeted emphasis on higher-end, differentiated technology services.

Another recent and important Science Applications International Corp (NYSE:SAIC) news was published by Globenewswire.com which published an article titled: “Wesco Aircraft Announces Chemical Management Services Agreement With Science …” on November 07, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>