Cowen & Co. Assigns a Hold Rating on Science Applications

By Austin Angelo

In a report released yesterday, Cai Rumohr from Cowen & Co. assigned a Hold rating to Science Applications (NYSE: SAIC), with a price target of $82. The company’s shares closed yesterday at $80.69.

According to TipRanks.com, Rumohr is a 5-star analyst with an average return of 17.9% and a 75.8% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, L3 Technologies Inc, and Spirit AeroSystems.

Currently, the analyst consensus on Science Applications is Hold and the average price target is $85.40, representing a 5.8% upside.

In a report released yesterday, Drexel Hamilton also downgraded the stock to Hold.

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Based on Science Applications’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.18 billion and net profit of $49 million. In comparison, last year the company earned revenue of $1.1 billion and had a net profit of $49 million.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.

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Science Applications International Corp. engages in the provision of engineering, systems integration and information technology services. It offers technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment and security of its customer’s information technology infrastructure. The company was founded by J. Robert Beyster in 1969 and is headquartered in McLean, VA.