KBR (NYSE:KBR) Stock Rating Lowered by Bank of America

KBR (NYSE:KBR) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $55.00 target price on the construction company’s stock, down from their previous target price of $70.00. Bank of America‘s target price points to a potential upside of 10.29% from the stock’s current price.

Several other brokerages have also weighed in on KBR. UBS Group lowered KBR from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $54.00 in a report on Wednesday, July 2nd. Wall Street Zen downgraded KBR from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp downgraded KBR from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 23rd. The Goldman Sachs Group downgraded KBR from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Tuesday, May 27th. Finally, Stifel Nicolaus raised their target price on KBR from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.78.

KBR Trading Down 1.2%

Shares of KBR opened at $49.87 on Wednesday. The business has a 50-day moving average of $48.82 and a 200 day moving average of $50.74. KBR has a fifty-two week low of $43.89 and a fifty-two week high of $72.60. The firm has a market cap of $6.42 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.13 and a current ratio of 1.13.

KBR (NYSE:KBR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. KBR had a return on equity of 33.65% and a net margin of 4.52%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts forecast that KBR will post 3.26 EPS for the current year.

Insider Activity

In other news, CEO Stuart Bradie sold 20,000 shares of KBR stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $52.81, for a total transaction of $1,056,200.00. Following the completion of the sale, the chief executive officer owned 802,361 shares in the company, valued at approximately $42,372,684.41. This trade represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.11% of the company’s stock.

Institutional Trading of KBR

A number of hedge funds have recently bought and sold shares of KBR. Norges Bank bought a new stake in KBR in the 2nd quarter worth approximately $92,565,000. Boston Partners lifted its position in KBR by 35.2% in the 1st quarter. Boston Partners now owns 4,384,527 shares of the construction company’s stock worth $218,648,000 after buying an additional 1,142,111 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in KBR by 444.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,247,506 shares of the construction company’s stock worth $72,268,000 after buying an additional 1,018,539 shares during the last quarter. Nomura Holdings Inc. lifted its position in KBR by 5,030.1% in the 1st quarter. Nomura Holdings Inc. now owns 907,002 shares of the construction company’s stock worth $45,178,000 after buying an additional 889,322 shares during the last quarter. Finally, Invesco Ltd. lifted its position in KBR by 16.1% in the 1st quarter. Invesco Ltd. now owns 4,925,667 shares of the construction company’s stock worth $245,347,000 after buying an additional 683,280 shares during the last quarter. Institutional investors own 97.02% of the company’s stock.

About KBR

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.