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Kratos Defense (KTOS) Stock Falls on Ratings Downgrade

NEW YORK (TheStreet) -- Shares of Kratos Defense & Security Solutions (KTOS) were dropping 5.87% to $7 on heavy trading volume after KeyBanc Capital Markets cut its rating on the stock to "sector weight" from "overweight."

The downgrade is due to the stock's meaningful outperformance since its second quarter results at the beginning of this month.

"Coming out of C2Q16 earnings season for our aerospace & defense coverage, we remain more cautious on commercial aerospace exposure as fundamentals appear to be growing weaker (i.e., rate cuts, order deferrals/ cancellations, capacity cuts, etc.)," the...