Aerojet Rocketdyne Holdings, Inc. (AJRD) Downgraded to “Strong Sell” at Zacks Investment Research

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, May 11th.

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 equities research analysts also recently commented on the company. Jefferies Group LLC assumed coverage on Aerojet Rocketdyne Holdings in a report on Friday, March 31st. They set a “buy” rating and a $28.00 price objective for the company. SunTrust Banks, Inc. began coverage on Aerojet Rocketdyne Holdings in a report on Thursday, January 19th. They set a “buy” rating and a $23.00 price objective for the company.

Shares of Aerojet Rocketdyne Holdings (NYSE AJRD) opened at 20.84 on Thursday. Aerojet Rocketdyne Holdings has a 52 week low of $16.04 and a 52 week high of $23.27. The company has a market capitalization of $1.55 billion, a PE ratio of 77.19 and a beta of 1.51. The stock has a 50 day moving average price of $21.44 and a 200-day moving average price of $20.34.

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A number of large investors have recently made changes to their positions in AJRD. TrueNorth Inc. bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter valued at about $1,524,000. Driehaus Capital Management LLC bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter valued at about $1,809,000. Tudor Investment Corp ET AL bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter valued at about $506,000. Jane Street Group LLC bought a new stake in shares of Aerojet Rocketdyne Holdings during the first quarter valued at about $417,000. Finally, Paloma Partners Management Co increased its stake in shares of Aerojet Rocketdyne Holdings by 41.8% in the first quarter. Paloma Partners Management Co now owns 299,479 shares of the aerospace company’s stock valued at $6,499,000 after buying an additional 88,253 shares during the period. Institutional investors and hedge funds own 93.29% 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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