Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
A number of other equities analysts have also issued reports on the company. Jefferies Group LLC lowered Aerojet Rocketdyne Holdings from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research report on Monday, October 23rd. Zacks Investment Research lowered Aerojet Rocketdyne Holdings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aerojet Rocketdyne Holdings in a research report on Wednesday, September 27th. Finally, CL King raised Aerojet Rocketdyne Holdings from a “neutral” rating to a “buy” rating in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $35.33.
Shares of Aerojet Rocketdyne Holdings (AJRD) traded down $2.87 on Thursday, hitting $27.97. The company’s stock had a trading volume of 3,022,643 shares, compared to its average volume of 810,778. Aerojet Rocketdyne Holdings has a one year low of $16.14 and a one year high of $36.25. The firm has a market cap of $2,100.55, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 5.89 and a beta of 1.43. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.40 and a current ratio of 1.70.
Aerojet Rocketdyne Holdings (NYSE:AJRD) last announced its earnings results on Thursday, November 2nd. The aerospace company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). Aerojet Rocketdyne Holdings had a net margin of 2.00% and a return on equity of 153.06%. The business had revenue of $484.00 million during the quarter, compared to analyst estimates of $487.48 million. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts anticipate that Aerojet Rocketdyne Holdings will post 0.87 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Aerojet Rocketdyne Holdings during the 3rd quarter valued at approximately $136,000. Ameritas Investment Partners Inc. raised its position in shares of 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 valued at $126,000 after acquiring an additional 925 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Aerojet Rocketdyne Holdings during the 3rd quarter valued at approximately $275,000. Advisor Group Inc. raised its position in shares of Aerojet Rocketdyne Holdings by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 8,644 shares of the aerospace company’s stock valued at $180,000 after acquiring an additional 35 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of Aerojet Rocketdyne Holdings by 0.7% during the 2nd quarter. Pinebridge Investments L.P. now owns 9,824 shares of the aerospace company’s stock valued at $204,000 after acquiring an additional 67 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.
About Aerojet Rocketdyne Holdings
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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