Orbital Sciences Corp (ORB) manufactures satellites and launches rockets in the defense industry and provides NASA with much-needed services, and the company displays encouraging financial metrics at a time when interest in space travel is on the rise, says Michael F. Ciarmoli, Vice President and Equity Research Analyst at KeyBanc Capital Markets Inc.
“The one top pick we have on the defense side is ‘buy’-rated Orbital Sciences, a name that’s performed very well year to date. They are a rocket-launch provider and a satellite manufacturer, one of the better organic stories in the defense sector, and also a key provider to NASA for its cargo-delivery services. They successfully launched their first new Antares rocket several weeks ago; they will be having another launch later this year,” Ciarmoli said.
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Ciarmoli says ORB benefits from the renewal of interest in space travel, and he says the company is showing good momentum and increased free cash flow.
“A very good story shaping up there, which will likely be augmented by an inflection in free cash flow, and I think there will also be good momentum stemming from this seemingly emerging space travel industry. We always think about the sector in terms of commercial aerospace and defense, and space kind of falls somewhere in the middle. I think a lot of the headlines from SpaceX, Virgin Galactic, and what NASA is seeking to do to lower overall costs, puts Orbital in a very good spot,” Ciarmoli said.
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