Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Harris Corp. (HRS - Analyst Report), a leading professional communications specialist, has won a series of significant contracts in the last couple of months. Yesterday, the company received a fixed-price, non-option-eligible contract to supply Mid-Tier Networking Vehicular (MNVR) radios to the U.S. Army. Total contract size is $140.7 million. Additionally, the company received a 3-year $8 million contract from the Department of Veterans Affairs for a Correspondence Tracking Software (CTS) system.

Last month, Harris won two major contracts worth $960 and $150 million, from the U.S. Air force Network-Centric Solutions-2 (NETCENTS-2) Application Services and the Federal Aviation Administration’s (FAA) NextGen Data Communications Program, respectively. Per the deals, Harris will supply an indefinite amount of IT-related products and services for three years to NETCENTS-2 and terrestrial circuits and high-frequency data communication services to the DCNS department of FAA.

Harris has supplied more than 45,000 of its popular Falcon III tactical radios to the U.S. military departments and more than 15 allied countries. The company mostly depends on the U.S. Government contracts for a major part of its revenues. The Defense Department has decided to reduce its budget by nearly $500 billion over the next decade. We believe that the ongoing defense budget contraction may affect Harris in the long run. At this juncture, the recent government contracts appear like a silverlining for the company.

Other Stocks to Consider

Harris currently has a Zacks Rank #3 (Hold). Other stocks in the industry that warrant a look includes Ubiquiti Networks Inc. (UBNT - Snapshot Report), DragonWave Inc. (DRWI - Snapshot Report) and Lockheed Martin Corp. (LMT - Analyst Report). While Ubiquiti carries a Zacks Rank #1 (Strong Buy), both DragonWave and Lockheed Martin have a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%