Bae Systems PLC (BAESY) Stock Rating Upgraded by Zacks Investment Research

Bae Systems PLC (OTCMKTS:BAESY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $38.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.67% from the stock’s previous close.

According to Zacks, “BAE Systems is a global company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land and at sea. BAE Systems Inc. is the US subsidiary of BAE Systems plc. Headquartered in Rockville,Maryland, BAE Systems Inc. consists of three Operating Groups that provide support and service solutions for current and future defense, intelligence, and civilian systems; design, develop and manufacture a wide range of electronic systems and subsystems for both military and commercial applications; and design, develop, produce,and provide service support of armored combat vehicles, artillery systems and intelligent munitions. “

A number of other research firms also recently weighed in on BAESY. J P Morgan Chase & Co downgraded Bae Systems PLC from an “overweight” rating to a “neutral” rating in a report on Friday, June 23rd. Berenberg Bank downgraded Bae Systems PLC from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.00.

Bae Systems PLC (OTCMKTS:BAESY) traded down 0.24% during midday trading on Thursday, reaching $33.14. The company had a trading volume of 193,808 shares. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 18.87 and a beta of 0.84. Bae Systems PLC has a one year low of $25.94 and a one year high of $35.23. The company has a 50-day moving average price of $32.93 and a 200-day moving average price of $32.87.

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Several institutional investors have recently bought and sold shares of the stock. Boyd Watterson Asset Management LLC OH grew its stake in shares of Bae Systems PLC by 0.5% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 7,176 shares of the aerospace company’s stock worth $236,000 after buying an additional 36 shares during the last quarter. Logan Capital Management Inc. grew its stake in shares of Bae Systems PLC by 1.7% in the 2nd quarter. Logan Capital Management Inc. now owns 30,395 shares of the aerospace company’s stock worth $1,001,000 after buying an additional 503 shares during the last quarter. Eqis Capital Management Inc. grew its stake in shares of Bae Systems PLC by 9.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 9,499 shares of the aerospace company’s stock worth $319,000 after buying an additional 797 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Bae Systems PLC by 0.6% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 310,708 shares of the aerospace company’s stock worth $10,227,000 after buying an additional 1,920 shares during the last quarter. Finally, Ranger International Management LP purchased a new stake in shares of Bae Systems PLC in the 2nd quarter worth approximately $500,000. Institutional investors own 0.43% of the company’s stock.

Bae Systems PLC Company Profile

BAE Systems plc is a defense, aerospace and security company. The Company operates through five segments. The Electronic Systems segment consists of the Company’s United States and United Kingdom-based electronics activities. The Cyber & Intelligence segment consists of its United States-based Intelligence & Security business and United Kingdom-based Applied Intelligence business, and covers the Company’s cyber, secure government, and commercial and financial security activities.

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