DA Davidson Raises KBR (NYSE:KBR) Price Target to $78.00

KBR (NYSE:KBR) had its target price raised by DA Davidson from $70.00 to $78.00 in a report published on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock. DA Davidson also issued estimates for KBR’s Q2 2024 earnings at $0.77 EPS and FY2024 earnings at $3.23 EPS.

KBR has been the topic of several other research reports. UBS Group lowered their price objective on shares of KBR from $65.00 to $63.00 and set a buy rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus raised their price objective on shares of KBR from $80.00 to $83.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of KBR from a hold rating to a buy rating in a research report on Wednesday, March 20th. Truist Financial lifted their target price on shares of KBR from $72.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Finally, KeyCorp lifted their target price on shares of KBR from $63.00 to $65.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, KBR presently has an average rating of Buy and an average price target of $73.86.

KBR Price Performance

Shares of NYSE:KBR opened at $66.78 on Wednesday. The firm has a fifty day moving average price of $62.43 and a two-hundred day moving average price of $57.08. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.10 and a quick ratio of 1.05. KBR has a one year low of $49.37 and a one year high of $66.98.

KBR (NYSE:KBR) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. KBR had a negative net margin of 3.65% and a positive return on equity of 26.14%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, equities analysts anticipate that KBR will post 3.21 EPS for the current year.

KBR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.15 dividend. This is a boost from KBR’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. KBR’s payout ratio is presently -31.25%.

Insider Buying and Selling at KBR

In other KBR news, EVP Jennifer Myles sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $58.95, for a total value of $471,600.00. Following the transaction, the executive vice president now owns 38,524 shares in the company, valued at $2,270,989.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On KBR

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of KBR by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 13,044,986 shares of the construction company’s stock valued at $722,823,000 after purchasing an additional 52,679 shares in the last quarter. Franklin Resources Inc. boosted its stake in KBR by 12.1% during the fourth quarter. Franklin Resources Inc. now owns 3,084,559 shares of the construction company’s stock worth $170,915,000 after acquiring an additional 331,749 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in KBR by 3.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,799,197 shares of the construction company’s stock worth $106,045,000 after acquiring an additional 56,426 shares in the last quarter. Jennison Associates LLC boosted its stake in KBR by 7.0% during the fourth quarter. Jennison Associates LLC now owns 1,526,058 shares of the construction company’s stock worth $84,559,000 after acquiring an additional 99,196 shares in the last quarter. Finally, Norges Bank bought a new stake in KBR during the fourth quarter worth about $77,193,000. Institutional investors own 97.02% of the company’s stock.

About KBR

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.