Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) has received an average recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.67.
Several analysts have recently weighed in on the company. SunTrust Banks boosted their target price on Aerojet Rocketdyne from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. TheStreet raised Aerojet Rocketdyne from a “c+” rating to a “b” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research raised Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd.
Aerojet Rocketdyne stock opened at $35.63 on Thursday. Aerojet Rocketdyne has a fifty-two week low of $24.41 and a fifty-two week high of $37.70. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $2.65 billion, a PE ratio of 48.70, a PEG ratio of 5.03 and a beta of 1.08.
Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Monday, July 30th. The aerospace company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Aerojet Rocketdyne had a return on equity of 46.03% and a net margin of 0.48%. The business had revenue of $467.20 million during the quarter, compared to the consensus estimate of $457.41 million. During the same period in the previous year, the business earned $0.32 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. equities research analysts expect that Aerojet Rocketdyne will post 1.27 EPS for the current year.
In other Aerojet Rocketdyne news, Director James H. Perry sold 25,225 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,884,096.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Turchin sold 5,000 shares of the company’s stock in a transaction that occurred on 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 $3,302,379.50. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in Aerojet Rocketdyne during the 2nd quarter valued at approximately $278,000. Waddell & Reed Financial Inc. purchased a new stake in Aerojet Rocketdyne during the 2nd quarter valued at approximately $7,081,000. Voya Investment Management LLC raised its stake in Aerojet Rocketdyne by 93.8% during the 2nd quarter. Voya Investment Management LLC now owns 57,985 shares of the aerospace company’s stock valued at $1,710,000 after acquiring an additional 28,069 shares during the last quarter. Raymond James & Associates purchased a new stake in Aerojet Rocketdyne during the 2nd quarter valued at approximately $592,000. Finally, OppenheimerFunds Inc. raised its stake in Aerojet Rocketdyne by 17.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 50,451 shares of the aerospace company’s stock valued at $1,488,000 after acquiring an additional 7,445 shares during the last quarter.
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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