BidaskClub upgraded shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) from a hold rating to a buy rating in a report released on Wednesday, July 19th.
Several other research analysts have also recently weighed in on AJRD. Zacks Investment Research raised Aerojet Rocketdyne Holdings from a sell rating to a hold rating in a research report on Tuesday, March 21st. Jefferies Group LLC assumed coverage on Aerojet Rocketdyne Holdings in a research report on Friday, March 31st. They set a buy rating and a $28.00 price target for the company.
Shares of Aerojet Rocketdyne Holdings (NYSE AJRD) opened at 26.97 on Wednesday. The firm’s 50-day moving average price is $22.25 and its 200-day moving average price is $21.18. Aerojet Rocketdyne Holdings has a 12 month low of $16.04 and a 12 month high of $27.49. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 99.89 and a beta of 1.53.
Aerojet Rocketdyne Holdings (NYSE:AJRD) last posted its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.17. The company had revenue of $459.60 million during the quarter, compared to analysts’ expectations of $433.71 million. Aerojet Rocketdyne Holdings had a return on equity of 153.06% and a net margin of 2.00%. Aerojet Rocketdyne Holdings’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts anticipate that Aerojet Rocketdyne Holdings will post $0.86 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP boosted its position in shares of Aerojet Rocketdyne Holdings by 9.3% in the second quarter. Royce & Associates LP now owns 831,086 shares of the aerospace company’s stock valued at $17,287,000 after buying an additional 71,000 shares during the period. American Century Companies Inc. boosted its position in shares of Aerojet Rocketdyne Holdings by 8.4% in the second quarter. American Century Companies Inc. now owns 348,166 shares of the aerospace company’s stock valued at $7,242,000 after buying an additional 27,070 shares during the period. Winslow Asset Management Inc. boosted its position in shares of Aerojet Rocketdyne Holdings by 0.4% in the second quarter. Winslow Asset Management Inc. now owns 902,541 shares of the aerospace company’s stock valued at $18,773,000 after buying an additional 3,474 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Aerojet Rocketdyne Holdings by 33.1% in the second quarter. BNP Paribas Arbitrage SA now owns 30,900 shares of the aerospace company’s stock valued at $643,000 after buying an additional 7,686 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Aerojet Rocketdyne Holdings by 10.1% in the second quarter. Legal & General Group Plc now owns 140,654 shares of the aerospace company’s stock valued at $2,925,000 after buying an additional 12,923 shares during the period. 93.41% of the stock is owned by hedge funds and other institutional investors.
Aerojet Rocketdyne Holdings Company Profile
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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