Zacks Investment Research upgraded shares of Aerojet Rocketdyne (NYSE:AJRD) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $37.00 target price on the aerospace company’s stock.
According to Zacks, “Aerojet Rocketdyne Holdings, Inc. focuses on developing military, civil and commercial systems and components for the aerospace and defense industry markets. Aerojet Rocketdyne Holdings, Inc., formerly known as GenCorp, Inc., is headquartered in Sacramento, California. “
Several other research firms have also commented on AJRD. SunTrust Banks reaffirmed a buy rating on shares of Aerojet Rocketdyne in a report on Wednesday, September 27th. Jefferies Group lowered Aerojet Rocketdyne from a buy rating to a hold rating and set a $35.00 target price on the stock. in a report on Monday, October 23rd. BidaskClub raised Aerojet Rocketdyne from a buy rating to a strong-buy rating in a report on Saturday, September 23rd. Finally, CL King raised Aerojet Rocketdyne from a neutral rating to a buy rating in a report on Friday, September 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $37.33.
Aerojet Rocketdyne (AJRD) traded up $0.04 during trading on Wednesday, reaching $31.81. The company had a trading volume of 312,800 shares, compared to its average volume of 698,183. The firm has a market capitalization of $2,390.00, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 4.83 and a beta of 1.41. Aerojet Rocketdyne has a 12-month low of $17.69 and a 12-month high of $36.25. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.38 and a current ratio of 1.66.
Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Thursday, November 2nd. The aerospace company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $484.00 million for the quarter, compared to analyst estimates of $487.48 million. Aerojet Rocketdyne had a return on equity of 60.91% and a net margin of 3.24%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. sell-side analysts anticipate that Aerojet Rocketdyne will post 0.84 earnings per share for the current fiscal year.
In other Aerojet Rocketdyne news, Director Martin Turchin sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $30.73, for a total value of $307,300.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Henderson sold 53,234 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $29.97, for a total value of $1,595,422.98. Following the completion of the sale, the director now directly owns 113,341 shares in the company, valued at $3,396,829.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,235 shares of company stock worth $2,652,753. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. grew its holdings in Aerojet Rocketdyne by 0.4% in the second quarter. Advisor Group Inc. now owns 8,644 shares of the aerospace company’s stock valued at $180,000 after purchasing an additional 35 shares during the period. Pinebridge Investments L.P. grew its holdings in Aerojet Rocketdyne by 0.7% in the second quarter. Pinebridge Investments L.P. now owns 9,824 shares of the aerospace company’s stock valued at $204,000 after purchasing an additional 67 shares during the period. HighTower Advisors LLC grew its holdings in Aerojet Rocketdyne by 1.2% in the second quarter. HighTower Advisors LLC now owns 64,970 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 759 shares during the period. Alliancebernstein L.P. lifted its position in shares of Aerojet Rocketdyne by 0.9% in the second quarter. Alliancebernstein L.P. now owns 91,126 shares of the aerospace company’s stock valued at $1,895,000 after acquiring an additional 800 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Aerojet Rocketdyne by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock valued at $126,000 after acquiring an additional 925 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.
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Aerojet Rocketdyne Company Profile
GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.
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