BAE Systems (LON:BA) Raised to Buy at Citigroup

BAE Systems (LON:BA) was upgraded by equities researchers at Citigroup to a “buy” rating in a research note issued on Monday, LSE.Co.UK reports. The brokerage currently has a GBX 1,440 ($18.62) price objective on the stock. Citigroup’s price objective would suggest a potential upside of 13.16% from the company’s previous close.

A number of other research firms have also issued reports on BA. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 1,500 ($19.40) target price on shares of BAE Systems in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on BAE Systems from GBX 1,290 ($16.68) to GBX 1,440 ($18.62) and gave the company a “buy” rating in a research note on Friday, April 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, BAE Systems presently has an average rating of “Buy” and an average price target of GBX 1,410 ($18.24).

BAE Systems Stock Performance

BA traded up GBX 22.50 ($0.29) during trading on Monday, reaching GBX 1,272.50 ($16.46). The company’s stock had a trading volume of 3,960,203 shares. The firm has a 50-day moving average of GBX 1,331.09 and a two-hundred day moving average of GBX 1,295.19. The company has a market capitalization of £38.56 billion, a P/E ratio of 2,120.83, a price-to-earnings-growth ratio of 3.93 and a beta of 0.36. The company has a debt-to-equity ratio of 62.47, a current ratio of 1.08 and a quick ratio of 0.91.

Insider Activity at BAE Systems

In related news, insider Charles Woodburn sold 485,694 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of GBX 1,389 ($17.96), for a total transaction of £6,746,289.66 ($8,725,154.76). In the last ninety days, insiders have bought 35 shares of company stock valued at $46,394. Corporate insiders own 0.36% of the company’s stock.

About BAE Systems

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.