Citigroup Cuts KBR (NYSE:KBR) Price Target to $76.00

KBR (NYSE:KBR) had its price objective reduced by investment analysts at Citigroup from $82.00 to $76.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s target price suggests a potential upside of 36.28% from the company’s previous close.

Other research analysts have also issued reports about the stock. DA Davidson reissued a “buy” rating and set a $84.00 price objective on shares of KBR in a report on Tuesday, November 19th. UBS Group upped their price objective on KBR from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. KeyCorp lowered their price target on KBR from $78.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. TD Cowen reduced their price objective on KBR from $72.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of KBR from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.00.

KBR Stock Performance

Shares of KBR opened at $55.77 on Wednesday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.01 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $58.53 and its two-hundred day moving average is $63.43. KBR has a 52-week low of $51.95 and a 52-week high of $72.60.

Hedge Funds Weigh In On KBR

Several large investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of KBR by 0.7% in the third quarter. State Street Corp now owns 4,016,324 shares of the construction company’s stock valued at $262,185,000 after acquiring an additional 29,833 shares in the last quarter. Franklin Resources Inc. lifted its position in KBR by 14.5% in the third quarter. Franklin Resources Inc. now owns 2,416,531 shares of the construction company’s stock worth $167,876,000 after purchasing an additional 305,889 shares during the period. Jennison Associates LLC raised its stake in shares of KBR by 27.8% in the 3rd quarter. Jennison Associates LLC now owns 1,621,740 shares of the construction company’s stock worth $105,624,000 after buying an additional 353,209 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in KBR by 5.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,256,562 shares of the construction company’s stock valued at $81,840,000 after buying an additional 62,880 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of KBR by 33.0% during the 4th quarter. Van ECK Associates Corp now owns 882,086 shares of the construction company’s stock valued at $51,099,000 after purchasing an additional 218,853 shares in the last quarter. Institutional investors and hedge funds own 97.02% of the company’s stock.

KBR Company Profile

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.