Zacks: Aerojet Rocketdyne Holdings, Inc. (AJRD) Given $36.67 Average Target Price by Analysts
Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) has been assigned a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. Aerojet Rocketdyne’s rating score has declined by 16.7% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a one year consensus target price of $36.67 for the company and are anticipating that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also assigned Aerojet Rocketdyne an industry rank of 84 out of 265 based on the ratings given to its competitors.
AJRD has been the subject of several recent research reports. CL King raised shares of Aerojet Rocketdyne from a “neutral” rating to a “buy” rating in a research report on Friday, September 22nd. BidaskClub downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 13th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Aerojet Rocketdyne in a research report on Wednesday, September 27th. Zacks Investment Research raised shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research report on Monday, October 23rd.
Shares of Aerojet Rocketdyne (NYSE:AJRD) traded up $0.33 on Friday, reaching $30.42. 179,551 shares of the company were exchanged, compared to its average volume of 781,857. Aerojet Rocketdyne has a 52-week low of $17.56 and a 52-week high of $36.25. The stock has a market capitalization of $2,284.54, a P/E ratio of 37.10, a PEG ratio of 6.58 and a beta of 1.43. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.66 and a quick ratio of 1.38.
Aerojet Rocketdyne (NYSE:AJRD) last announced its quarterly earnings data on Thursday, November 2nd. The aerospace company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). The company had revenue of $484.00 million for the quarter, compared to analysts’ expectations of $487.48 million. Aerojet Rocketdyne had a net margin of 3.24% and a return on equity of 60.91%. The firm’s revenue was up 4.3% compared to the same quarter last year. equities analysts predict that Aerojet Rocketdyne will post 0.84 earnings per share for the current year.
In other news, Director James H. Perry sold 25,001 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $30.00, for a total value of $750,030.00. Following the completion of the sale, the director now directly owns 166,959 shares in the company, valued at $5,008,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Henderson sold 53,234 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $29.97, for a total transaction of $1,595,422.98. Following the completion of the sale, the director now owns 113,341 shares of the company’s stock, valued at $3,396,829.77. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Aerojet Rocketdyne by 6.8% in the second quarter. BlackRock Inc. now owns 10,372,466 shares of the aerospace company’s stock worth $215,747,000 after buying an additional 659,778 shares during the last quarter. Vanguard Group Inc. raised its stake in Aerojet Rocketdyne by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,740,974 shares of the aerospace company’s stock valued at $77,813,000 after purchasing an additional 246,605 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Aerojet Rocketdyne by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,218,990 shares of the aerospace company’s stock valued at $77,687,000 after purchasing an additional 34,676 shares during the last quarter. State Street Corp raised its stake in Aerojet Rocketdyne by 25.4% during the 2nd quarter. State Street Corp now owns 2,139,438 shares of the aerospace company’s stock valued at $44,504,000 after purchasing an additional 433,398 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Aerojet Rocketdyne by 2.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,809,895 shares of the aerospace company’s stock valued at $37,646,000 after purchasing an additional 51,600 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
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About Aerojet Rocketdyne
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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