Aerojet Rocketdyne (NYSE:AJRD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, January 10th. The firm presently has a $37.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 47.23% from the company’s current price.
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. “
A number of other research firms have also commented on AJRD. SunTrust Banks reissued a “buy” rating on shares of Aerojet Rocketdyne in a research report on Wednesday, September 27th. Jefferies Group lowered Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research report on Monday, October 23rd. BidaskClub raised Aerojet Rocketdyne from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 23rd. Finally, CL King raised Aerojet Rocketdyne from a “neutral” rating to a “buy” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Aerojet Rocketdyne has a consensus rating of “Hold” and an average target price of $37.33.
Aerojet Rocketdyne (NYSE AJRD) traded down $1.30 during midday trading on Wednesday, reaching $25.13. The company had a trading volume of 1,397,398 shares, compared to its average volume of 822,454. The stock has a market cap of $1,980.00, a price-to-earnings ratio of 29.92, a P/E/G ratio of 5.19 and a beta of 1.12. Aerojet Rocketdyne has a twelve month low of $18.41 and a twelve month high of $36.25. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.66 and a quick ratio of 1.38.
Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings results on Thursday, November 2nd. The aerospace company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $484.00 million during the quarter, compared to analysts’ expectations of $487.48 million. Aerojet Rocketdyne had a net margin of 3.24% and a return on equity of 60.91%. Aerojet Rocketdyne’s quarterly revenue was up 4.3% on a year-over-year basis. research analysts anticipate that Aerojet Rocketdyne will post 0.83 EPS for the current fiscal year.
In other news, Director James H. Perry sold 25,001 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $30.00, for a total transaction of $750,030.00. Following the completion of the transaction, the director now owns 166,959 shares in the company, valued at approximately $5,008,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Henderson sold 53,234 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $29.97, for a total value of $1,595,422.98. Following the transaction, the director now owns 113,341 shares of the company’s stock, valued at approximately $3,396,829.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,235 shares of company stock valued at $2,652,753. Insiders own 2.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Aerojet Rocketdyne during the 3rd quarter worth $101,000. IFP Advisors Inc grew its stake in shares of Aerojet Rocketdyne by 1,129.9% during the 4th quarter. IFP Advisors Inc now owns 3,542 shares of the aerospace company’s stock worth $111,000 after acquiring an additional 3,254 shares during the period. Fortaleza Asset Management Inc. bought a new position in Aerojet Rocketdyne in the 3rd quarter worth about $136,000. SG Americas Securities LLC bought a new position in Aerojet Rocketdyne in the 3rd quarter worth about $201,000. Finally, Ballentine Partners LLC bought a new position in Aerojet Rocketdyne in the 3rd quarter worth about $210,000. Institutional investors own 98.01% of the company’s stock.
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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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