Why Did Noble Financial Downgrade Kratos Defense’s Stock?


Noble Financial analyst Joe Gomes downgraded Kratos Defense (KTOS) to Hold today. The company’s shares closed last Thursday at $28.51.

According to TipRanks.com, Gomes is a 5-star analyst with an average return of 33.8% and a 64.0% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.

Currently, the analyst consensus on Kratos Defense is a Hold with an average price target of $28.60, implying a -3.1% downside from current levels. In a report issued on February 18, Robert W. Baird also downgraded the stock to Hold with a $29.00 price target.

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Based on Kratos Defense’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $202 million and net profit of $2.4 million. In comparison, last year the company earned revenue of $184 million and had a net profit of $2.5 million.

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Kratos Defense & Security Solutions, Inc. engages in the provision of technology systems to the U.S. Department of Defense. It operates through the following segments: Kratos Government Solutions and Unmanned Systems. The Kratos Government Solutions segment includes microwave electronic products, satellite communications, modular systems, and rocket support operating. The Unmanned Systems segment consists of unmanned aerial system and unmanned ground & seaborne system businesses. The company was founded on December 19, 1994 and is headquartered in San Diego, CA.

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