Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) Receives $53.83 Average PT from Analysts

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) has received an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $53.83.

A number of analysts have recently issued reports on AJRD shares. Truist lowered shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and increased their price target for the stock from $54.00 to $56.00 in a research report on Monday, December 21st. Truist Financial lowered shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research report on Tuesday, December 22nd. Canaccord Genuity cut their price objective on shares of Aerojet Rocketdyne from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Jefferies Financial Group lowered shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and raised their price objective for the company from $55.00 to $56.00 in a research report on Thursday, January 7th. Finally, Royal Bank of Canada raised their price objective on shares of Aerojet Rocketdyne from $51.00 to $56.00 in a research report on Monday, December 21st.

Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in shares of Aerojet Rocketdyne by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,589 shares of the aerospace company’s stock valued at $1,564,000 after purchasing an additional 190 shares during the period. US Bancorp DE raised its position in shares of Aerojet Rocketdyne by 15.1% in the fourth quarter. US Bancorp DE now owns 1,478 shares of the aerospace company’s stock valued at $78,000 after purchasing an additional 194 shares during the period. Royce & Associates LP raised its position in shares of Aerojet Rocketdyne by 1.4% in the fourth quarter. Royce & Associates LP now owns 14,316 shares of the aerospace company’s stock valued at $757,000 after purchasing an additional 203 shares during the period. Penserra Capital Management LLC raised its position in shares of Aerojet Rocketdyne by 18.0% in the fourth quarter. Penserra Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $102,000 after purchasing an additional 296 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Aerojet Rocketdyne by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,570 shares of the aerospace company’s stock valued at $189,000 after purchasing an additional 300 shares during the period.

Shares of NYSE AJRD traded down $0.36 during mid-day trading on Tuesday, reaching $52.00. The company had a trading volume of 39,799 shares, compared to its average volume of 1,547,673. The stock has a fifty day moving average of $52.53 and a two-hundred day moving average of $43.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 34.45 and a beta of 0.49. Aerojet Rocketdyne has a 12-month low of $32.15 and a 12-month high of $53.82.

Aerojet Rocketdyne (NYSE:AJRD) last posted its quarterly earnings results on Wednesday, February 17th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Aerojet Rocketdyne had a return on equity of 19.05% and a net margin of 6.26%. Sell-side analysts forecast that Aerojet Rocketdyne will post 1.68 earnings per share for the current fiscal year.

Aerojet Rocketdyne Company Profile

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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Analyst Recommendations for Aerojet Rocketdyne (NYSE:AJRD)

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