CHICAGO, Sept. 20, 2012 /PRNewswire/ -- Zacks Equity Research highlights Alliant Techsystems (ATK) as the Bull of the Day.
Full analysis Alliant Techsystems (ATK) is available at http://at.zacks.com/?id=10496.
Here is a synopsis of the Alliant Techsystems (ATK):
Bull of the Day is Alliant Techsystems (ATK):
In the first quarter of fiscal 2013, Alliant Techsystems, Inc.'s (ATK) earnings and revenue beat the Zacks Consensus Estimate as well as year-ago numbers. The robust results were due to proper execution of the programs at the Defense Group and Sporting Group segments, increase in ammunition sales volume and steady order flow.
Alliant Techsystems strong financial position allows it to expand internally and through acquisitions. It has also increased shareholder value through payment of dividend and setting aside an amount for buybacks. We believe that Alliant Techsystems recently incorporated business segment realignment strategy enables it to improve its operating efficiency while benefiting margins.
However, the U.S. defense budget cutbacks could limit growth prospects of Alliant Techsystems. We maintain our recommendation on the Alliant Techsystems stock to Outperform. Our target price of $60.00 reflects a P/E multiple of 8.4 based on 2012 EPS.
Get the full analysis of Alliant Techsystems (ATK) and other stocks by going to http://at.zacks.com/?id=10496.
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