Citigroup Raises KBR (NYSE:KBR) Price Target to $72.00

KBR (NYSE:KBR) had its price objective upped by Citigroup from $66.00 to $72.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other brokerages have also recently issued reports on KBR. KeyCorp upped their target price on shares of KBR from $63.00 to $65.00 and gave the company an overweight rating in a report on Wednesday, February 21st. Stifel Nicolaus restated a buy rating and set a $80.00 price objective (up previously from $78.00) on shares of KBR in a research report on Wednesday, March 13th. Truist Financial increased their price target on shares of KBR from $72.00 to $90.00 and gave the company a buy rating in a report on Tuesday, April 9th. StockNews.com raised shares of KBR from a hold rating to a buy rating in a research note on Wednesday, March 20th. Finally, UBS Group decreased their target price 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $73.43.

KBR Price Performance

KBR stock opened at $65.24 on Monday. The company’s 50 day simple moving average is $61.59 and its 200-day simple moving average is $56.92. KBR has a 1 year low of $49.37 and a 1 year high of $65.87. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.05 and a quick ratio of 1.05.

KBR (NYSE:KBR) last announced its earnings results on Tuesday, February 20th. The construction company reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. KBR had a negative net margin of 3.81% and a positive return on equity of 25.08%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts forecast that KBR will post 3.19 EPS for the current year.

KBR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.15 dividend. This is a positive change 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 annualized dividend and a yield of 0.92%. KBR’s dividend payout ratio (DPR) is presently -29.27%.

Insider Activity at KBR

In related news, EVP Jennifer Myles sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KBR. Vanguard Group Inc. raised its stake in shares of KBR by 0.4% during the fourth 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 during the period. Franklin Resources Inc. raised its stake in shares of KBR by 12.1% during the fourth quarter. Franklin Resources Inc. now owns 3,084,559 shares of the construction company’s stock valued at $170,915,000 after purchasing an additional 331,749 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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 valued at $106,045,000 after purchasing an additional 56,426 shares during the period. Jennison Associates LLC raised its stake in shares of KBR by 7.0% during the fourth quarter. Jennison Associates LLC now owns 1,526,058 shares of the construction company’s stock valued at $84,559,000 after purchasing an additional 99,196 shares during the period. Finally, Norges Bank purchased a new stake in shares of KBR during the fourth quarter valued at approximately $77,193,000. Hedge funds and other 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.