B.Riley FBR analyst Dan Drawbaugh reiterated a Buy rating on Vectrus (VEC) today and set a price target of $49. The company’s shares closed yesterday at $37.86.
Drawbaugh noted:
“Government services contractor Vectrus (VEC) reported 2Q19 results after the close on August 6. Second-quarter results exceeded our expectations after excluding non-core (and unmodeled) transaction and legal costs, and we continue to model a sequential revenue and earnings ramp- up over the course of 2019. Revenue for the full year appears on track to exceed our prior expectations because of the acquisition of Advantor, announced in early July (see our July 9 brief), and because of incrementally better organic growth driven by on-contract gains and favorable optempo in the Middle East. Given the revenue upside in 2019, VEC’s management disclosed that it will pull ahead some planned internal investments that are part of its long-term margin-enhancement strategy.”
According to TipRanks.com, Drawbaugh is ranked #4252 out of 5226 analysts.
Vectrus has an analyst consensus of Moderate Buy, with a price target consensus of $49.
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The company has a one-year high of $46.51 and a one-year low of $19.61. Currently, Vectrus has an average volume of 91.78K.
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Vectrus, Inc. is a services company. The company’s services include facility & logistics Services and Information Technology & Network Communications Services.
