Orbital ATK, Inc. (NYSE:OA) was a big mover last session, as the company saw its shares rise more than 20% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $105.5 to $111.58 in the past one month time frame.
The move came after Northrop Grumman Corporation (NYSE:NOC), a leading global security company, announced that it has settled the acquisition deal with Orbital ATK for $9.2 billion. The shareholders of Orbital ATK will be given all-cash consideration of $134.50 per share, reflecting a premium of nearly 22.2% from Orbital’s Friday closing price of $110.04.
The company has seen three negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Orbital ATK currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the Aerospace - Defense Equipment industry may consider Teledyne Technologies Incorporated (NYSE:TDY) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is OA going up? Or down? Predict to see what others think:Up or Down
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Teledyne Technologies Incorporated (TDY): Free Stock Analysis Report
Orbital ATK, Inc. (OA): Free Stock Analysis Report
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