Northrop Grumman Corp (NYSE:NOC) reaching 52-week high, short interest stable

Northrop Grumman Corp (NYSE:NOC) (Trend Analysis) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $245.17, up by 1.18%, with a volume of 2,190,401 shares against an average amount for the last three months of 892,634.

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Northrop Grumman Corp (NYSE:NOC) stock is currently trading 1.92% below its 52-week-high, 40.1% above its 52-week-low. The 1-year stock price history is in the range of $175 – $249.98. Northrop Grumman Corp (NOC) has a price to earnings ratio of 20.92 versus Industrial Goods sector average of 36.38. NOC stock price has outperformed the S&P 500 by 23.7%. The Aerospace & Defense company is currently valued at $43.21 billion, and its share price closed the last trading session at $245.17. The stock has a 50-day moving average of $220.35 and a 200-day moving average of $216.57.

Northrop Grumman Corp (NOC) current short interest stands at 1.89 million shares. It has increased by 2% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.39 million shares, the number of days required to cover the short positions stand at 1.4 days.

NOC is forecasted to report earnings per share of $2.47 and a revenue of $5.9 billion for the 4th Quarter of the fiscal year 2016. Northrop Grumman Corp (NOC) declared last quarter earnings on October 26. The Aerospace & Defense company announced last quarter earnings per share of $3.02 against a consensus Street estimate of $2.81, beating the average estimate by $0.21. The company posted a revenue of $6.16 billion compared to an estimation of $5.98 billion.

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There are currently twenty analysts that cover Northrop Grumman Corp stock. Of those twenty, eight have a Buy rating, eleven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $238.

A recent analyst activity consisted of Vertical Group who initiated their coverage on the stock with Hold rating on October 28. On the date of report, the stock closed at $228.38.

Jefferies reiterated their Buy stance on October 27, and increased their price target on NOC stock from $250 to $260. This corresponds to a 6.05% upside from the last closing price. On the date of report, the stock closed at $225.35.

Another research firm was Baird who initiated their coverage on the stock with Outperform rating on October 6. Baird fixed their price target at $260. This translates to a 6.05% upside from the last closing price. On the date of report, the stock closed at $214.21.

Company snapshot

Northrop Grumman Corporation is a global security company. The Company provides systems, products, and solutions in aerospace, electronics, information systems and technical services to government and commercial customers worldwide.

Northrop Grumman Corp (NYSE:NOC) reaching 52-week high, short interest stable was last modified: November 11th, 2016 by Pat Mayfield