Aerojet Rocketdyne (NYSE:AJRD) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, April 2nd.
Separately, Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Aerojet Rocketdyne has a consensus rating of “Buy” and a consensus target price of $37.33.
Shares of AJRD stock traded up $0.56 on Monday, hitting $31.01. The stock had a trading volume of 508,960 shares, compared to its average volume of 805,453. The company has a market cap of $2,245.49, a P/E ratio of 41.26, a P/E/G ratio of 5.41 and a beta of 1.02. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.71 and a quick ratio of 1.48. Aerojet Rocketdyne has a 12-month low of $20.06 and a 12-month high of $36.25.
Aerojet Rocketdyne (NYSE:AJRD) last announced its earnings results on Wednesday, February 21st. The aerospace company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). Aerojet Rocketdyne had a negative net margin of 0.49% and a positive return on equity of 47.43%. The firm had revenue of $528.20 million during the quarter, compared to analysts’ expectations of $540.35 million. During the same quarter in the prior year, the company earned $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. research analysts expect that Aerojet Rocketdyne will post 1 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Aerojet Rocketdyne in the third quarter worth about $101,000. IFP Advisors Inc boosted its position in shares of Aerojet Rocketdyne by 1,129.9% in the fourth quarter. IFP Advisors Inc now owns 3,542 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 3,254 shares during the period. Greenleaf Trust boosted its position in shares of Aerojet Rocketdyne by 97.2% in the fourth quarter. Greenleaf Trust now owns 4,300 shares of the aerospace company’s stock valued at $134,000 after acquiring an additional 2,120 shares during the period. SG Americas Securities LLC bought a new position in shares of Aerojet Rocketdyne in the third quarter valued at approximately $201,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Aerojet Rocketdyne by 307.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,312 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 4,763 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.
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About Aerojet Rocketdyne
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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