What Happened
New Defense Awards May Spark Rebound
Kratos Defense & Security Solutions, Inc.’s shares have lost 37% year to date, compared to the Zacks Aerospace-Defense Equipment industry’s decline of 4.5%. The company is a primary provider of unmanned aerial target drone systems for the U.S. Air Force, Navy, Army, and several allied defense agencies. Recent awards, including a $20 million contract for mobile satellite communications, may spark a rebound in the company’s stock. Kratos Defense is also expanding production of its Spartan TDI-J85 turbojet engines, which could provide incremental revenues. This article originally published on Zacks Investment Research.