Aerojet Rocketdyne (NYSE:AJRD) Price Target Raised to $55.00

Aerojet Rocketdyne (NYSE:AJRD) had its price target hoisted by SunTrust Banks to $55.00 in a report issued on Thursday morning, The Fly reports. They currently have a buy rating on the aerospace company’s stock.

AJRD has been the topic of a number of other reports. ValuEngine raised Aerojet Rocketdyne from a hold rating to a buy rating in a research note on Thursday, June 13th. Zacks Investment Research raised Aerojet Rocketdyne from a sell rating to a hold rating in a research note on Wednesday, April 24th. Finally, Canaccord Genuity began coverage on Aerojet Rocketdyne in a research note on Friday, June 28th. They issued a buy rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $52.33.

NYSE:AJRD opened at $46.86 on Thursday. The company has a market capitalization of $3.82 billion, a PE ratio of 28.73, a P/E/G ratio of 5.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.45 and a current ratio of 1.53. The business’s 50-day moving average price is $44.24. Aerojet Rocketdyne has a 1-year low of $29.40 and a 1-year high of $49.74.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings results on Wednesday, July 31st. The aerospace company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The company had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $473.98 million. Aerojet Rocketdyne had a return on equity of 30.58% and a net margin of 8.95%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Aerojet Rocketdyne will post 1.67 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Aerojet Rocketdyne by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,467,725 shares of the aerospace company’s stock worth $86,937,000 after acquiring an additional 54,328 shares during the period. Eagle Asset Management Inc. lifted its stake in Aerojet Rocketdyne by 0.7% in the first quarter. Eagle Asset Management Inc. now owns 2,137,326 shares of the aerospace company’s stock valued at $75,939,000 after buying an additional 14,818 shares during the period. Clearbridge Investments LLC acquired a new position in Aerojet Rocketdyne in the first quarter valued at approximately $37,465,000. Scout Investments Inc. lifted its stake in Aerojet Rocketdyne by 20.8% in the first quarter. Scout Investments Inc. now owns 616,927 shares of the aerospace company’s stock valued at $21,919,000 after buying an additional 106,277 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in Aerojet Rocketdyne by 12.1% in the first quarter. OppenheimerFunds Inc. now owns 605,206 shares of the aerospace company’s stock valued at $21,504,000 after buying an additional 65,126 shares during the period.

About Aerojet Rocketdyne

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.

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