Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday, September 13th.
Separately, Zacks Investment Research raised shares of Aerojet Rocketdyne Holdings from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a report on Tuesday, August 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.33.
Aerojet Rocketdyne Holdings (NYSE AJRD) opened at 33.89 on Wednesday. The firm’s 50-day moving average price is $27.75 and its 200 day moving average price is $23.29. The stock has a market cap of $2.55 billion, a P/E ratio of 65.68 and a beta of 1.47. Aerojet Rocketdyne Holdings has a 52-week low of $16.04 and a 52-week high of $35.44.
Aerojet Rocketdyne Holdings (NYSE:AJRD) last posted its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.17. The firm had revenue of $459.60 million during the quarter, compared to the consensus estimate of $433.71 million. Aerojet Rocketdyne Holdings had a net margin of 2.00% and a return on equity of 153.06%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Equities analysts predict that Aerojet Rocketdyne Holdings will post $0.90 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Strategic Wealth Advisors Group LLC acquired a new position in Aerojet Rocketdyne Holdings during the 2nd quarter worth approximately $294,000. Piedmont Investment Advisors LLC acquired a new position in Aerojet Rocketdyne Holdings during the 2nd quarter worth approximately $335,000. Ameritas Investment Partners Inc. increased its position in Aerojet Rocketdyne Holdings by 18.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock worth $126,000 after purchasing an additional 925 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Aerojet Rocketdyne Holdings in the 2nd quarter valued at approximately $1,097,000. Finally, California State Teachers Retirement System increased its position in Aerojet Rocketdyne Holdings by 4.4% in the 2nd quarter. California State Teachers Retirement System now owns 122,540 shares of the aerospace company’s stock valued at $2,549,000 after acquiring an additional 5,192 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.
Aerojet Rocketdyne Holdings 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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