Wells Fargo & Company Cuts Leidos (NYSE:LDOS) Price Target to $173.00

Leidos (NYSE:LDOS) had its price target lowered by equities research analysts at Wells Fargo & Company from $191.00 to $173.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 29.69% from the stock’s current price.

A number of other analysts also recently issued reports on LDOS. Cantor Fitzgerald upgraded shares of Leidos to a “strong-buy” rating in a report on Tuesday, February 25th. Truist Financial reduced their target price on Leidos from $185.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. StockNews.com raised Leidos from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. TD Cowen downgraded Leidos from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $165.00 in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group downgraded Leidos from a “buy” rating to a “neutral” rating and lowered their target price for the company from $228.00 to $153.00 in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.79.

Leidos Price Performance

NYSE:LDOS traded up $0.49 on Tuesday, reaching $133.39. 1,809,308 shares of the company’s stock traded hands, compared to its average volume of 1,185,494. The firm has a market cap of $17.10 billion, a PE ratio of 14.44, a P/E/G ratio of 1.65 and a beta of 0.66. The company has a quick ratio of 1.13, a current ratio of 1.21 and a debt-to-equity ratio of 0.91. The stock has a 50-day simple moving average of $135.48 and a 200-day simple moving average of $152.88. Leidos has a 12 month low of $123.23 and a 12 month high of $202.90.

Leidos (NYSE:LDOS) last posted its quarterly earnings results on Tuesday, February 11th. The aerospace company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.13. Leidos had a return on equity of 30.93% and a net margin of 7.53%. Equities research analysts forecast that Leidos will post 10.62 earnings per share for the current year.

Insider Buying and Selling

In other Leidos news, Director Gary Stephen May sold 2,128 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $131.24, for a total value of $279,278.72. Following the sale, the director now owns 11,264 shares in the company, valued at $1,478,287.36. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert C. Kovarik, Jr. sold 1,511 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $134.56, for a total transaction of $203,320.16. Following the sale, the director now directly owns 6,408 shares of the company’s stock, valued at $862,260.48. This represents a 19.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Leidos

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Leidos in the fourth quarter valued at approximately $266,419,000. Alliancebernstein L.P. lifted its holdings in shares of Leidos by 510.6% in the 4th quarter. Alliancebernstein L.P. now owns 999,661 shares of the aerospace company’s stock worth $144,011,000 after buying an additional 835,930 shares during the period. Invesco Ltd. grew its position in shares of Leidos by 35.0% during the 4th quarter. Invesco Ltd. now owns 2,630,448 shares of the aerospace company’s stock worth $378,942,000 after buying an additional 682,532 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Leidos by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 3,504,392 shares of the aerospace company’s stock valued at $571,216,000 after buying an additional 405,256 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Leidos by 435.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 464,573 shares of the aerospace company’s stock valued at $67,032,000 after buying an additional 377,756 shares during the period. 76.12% of the stock is owned by hedge funds and other institutional investors.

Leidos Company Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.