Aerojet Rocketdyne (AJRD) Cut to “Hold” at ValuEngine

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

A number of other research firms also recently commented on AJRD. Zacks Investment Research raised Aerojet Rocketdyne from a hold rating to a strong-buy rating and set a $34.00 target price for the company in a report on Tuesday, July 24th. SunTrust Banks lifted their target price on Aerojet Rocketdyne from $36.00 to $41.00 and gave the stock a buy rating in a report on Tuesday, August 21st. Finally, TheStreet raised Aerojet Rocketdyne from a c+ rating to a b rating in a report on Friday, August 3rd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $36.67.

Shares of AJRD stock opened at $33.32 on Monday. Aerojet Rocketdyne has a fifty-two week low of $24.41 and a fifty-two week high of $37.70. The stock has a market cap of $2.50 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 4.73 and a beta of 1.08. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.60 and a current ratio of 1.60.

Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings results on Monday, July 30th. The aerospace company reported $0.45 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $457.41 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. sell-side analysts predict 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 business’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 value of $865,974.25. Following the completion of the transaction, the director now directly owns 113,140 shares of the company’s stock, valued at $3,884,096.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Turchin sold 5,000 shares of the business’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 completion of the transaction, 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. Insiders own 3.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. Swiss National Bank lifted its holdings in Aerojet Rocketdyne by 5.8% in the second quarter. Swiss National Bank now owns 117,700 shares of the aerospace company’s stock valued at $3,471,000 after acquiring an additional 6,500 shares during the period. Principal Financial Group Inc. lifted its holdings in Aerojet Rocketdyne by 2.1% in the first quarter. Principal Financial Group Inc. now owns 616,157 shares of the aerospace company’s stock valued at $17,234,000 after acquiring an additional 12,780 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Aerojet Rocketdyne by 652.6% in the second quarter. PNC Financial Services Group Inc. now owns 74,053 shares of the aerospace company’s stock valued at $2,184,000 after acquiring an additional 64,214 shares during the period. Pegasus Partners Ltd. lifted its holdings in Aerojet Rocketdyne by 6.0% in the second quarter. Pegasus Partners Ltd. now owns 131,456 shares of the aerospace company’s stock valued at $3,877,000 after acquiring an additional 7,490 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Aerojet Rocketdyne by 17.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 62,584 shares of the aerospace company’s stock valued at $1,846,000 after acquiring an additional 9,095 shares during the period.

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.

Read More: Moving Average – How it Helps Investors in Stock Selection

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Aerojet Rocketdyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerojet Rocketdyne and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply