ValuEngine upgraded shares of Aerojet Rocketdyne (NYSE:AJRD) from a hold rating to a buy rating in a report released on Monday morning.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Aerojet Rocketdyne from a hold rating to a strong-buy rating and set a $34.00 price objective on the stock in a research report on Tuesday, July 24th. SunTrust Banks upped their target price on shares of Aerojet Rocketdyne from $36.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, August 21st. Finally, TheStreet raised shares of Aerojet Rocketdyne from a c+ rating to a b rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $36.67.

Shares of Aerojet Rocketdyne stock opened at $32.32 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.64. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 4.61 and a beta of 1.07. Aerojet Rocketdyne has a 12-month low of $24.41 and a 12-month high of $37.70.

Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings data on Monday, July 30th. The aerospace company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. The business had revenue of $467.20 million for the quarter, compared to the consensus estimate of $457.41 million. Aerojet Rocketdyne had a net margin of 0.48% and a return on equity of 46.03%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts forecast that Aerojet Rocketdyne will post 1.27 earnings per share for the current year.

In other news, Director Martin Turchin sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $36.43, for a total value of $182,150.00. Following the sale, the director now directly owns 90,650 shares of the company’s stock, valued at approximately $3,302,379.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James H. Perry sold 25,225 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $34.33, for a total transaction of $865,974.25. Following the completion of the sale, the director now directly owns 113,140 shares in the company, valued at $3,884,096.20. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in AJRD. LS Investment Advisors LLC boosted its stake in Aerojet Rocketdyne by 99.3% in the 2nd quarter. LS Investment Advisors LLC now owns 4,556 shares of the aerospace company’s stock worth $134,000 after purchasing an additional 2,270 shares in the last quarter. Seven Eight Capital LP bought a new position in Aerojet Rocketdyne in the 3rd quarter worth about $207,000. Eidelman Virant Capital boosted its stake in Aerojet Rocketdyne by 298.5% in the 2nd quarter. Eidelman Virant Capital now owns 6,675 shares of the aerospace company’s stock worth $196,000 after purchasing an additional 5,000 shares in the last quarter. NumerixS Investment Technologies Inc boosted its stake in Aerojet Rocketdyne by 28.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,720 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Aerojet Rocketdyne in the 2nd quarter worth about $278,000.

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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