RADA Electronic Industries (NASDAQ:RADA) PT Lowered to $14.00 at Canaccord Genuity Group

RADA Electronic Industries (NASDAQ:RADA) had its price target cut by Canaccord Genuity Group from $16.00 to $14.00 in a research note released on Wednesday, The Fly reports. They currently have a buy rating on the aerospace company’s stock.

Other equities analysts also recently issued reports about the stock. Alliance Global Partners cut their price target on shares of RADA Electronic Industries from $16.00 to $14.00 in a report on Thursday, January 6th. Zacks Investment Research downgraded shares of RADA Electronic Industries from a buy rating to a hold rating in a report on Saturday, January 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $14.57.

Shares of NASDAQ:RADA opened at $9.39 on Wednesday. The company’s 50-day moving average is $9.63 and its 200 day moving average is $10.69. The company has a market capitalization of $462.55 million, a P/E ratio of 20.41 and a beta of 0.96. RADA Electronic Industries has a fifty-two week low of $8.20 and a fifty-two week high of $14.80.

RADA Electronic Industries (NASDAQ:RADA) last issued its quarterly earnings results on Wednesday, November 3rd. The aerospace company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $33.00 million. RADA Electronic Industries had a net margin of 21.05% and a return on equity of 18.38%. During the same period in the previous year, the firm earned $0.05 EPS. As a group, analysts predict that RADA Electronic Industries will post 0.55 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of RADA Electronic Industries by 13.7% during the third quarter. Wellington Management Group LLP now owns 3,004,535 shares of the aerospace company’s stock valued at $31,968,000 after buying an additional 361,800 shares during the period. Franklin Resources Inc. bought a new stake in shares of RADA Electronic Industries during the third quarter valued at about $25,858,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of RADA Electronic Industries by 6.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,077,729 shares of the aerospace company’s stock valued at $22,107,000 after buying an additional 126,216 shares during the period. Meitav Dash Investments Ltd. increased its position in shares of RADA Electronic Industries by 53.0% during the third quarter. Meitav Dash Investments Ltd. now owns 1,830,481 shares of the aerospace company’s stock valued at $19,476,000 after buying an additional 634,327 shares during the period. Finally, State Street Corp increased its position in shares of RADA Electronic Industries by 603.2% during the second quarter. State Street Corp now owns 1,447,866 shares of the aerospace company’s stock valued at $17,635,000 after buying an additional 1,241,980 shares during the period. 55.47% of the stock is currently owned by institutional investors and hedge funds.

About RADA Electronic Industries

Rada Electronic Industries Ltd. Operates as a defense technology company. It develops, manufactures and sells defense electronics, including avionics solutions (including avionics for unmanned aerial vehicles and airborne inertial navigation systems), airborne data/video recording and management systems and tactical land-based radars for defense forces and for border protection systems.

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Analyst Recommendations for RADA Electronic Industries (NASDAQ:RADA)

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