Aerojet Rocketdyne (AJRD) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Aerojet Rocketdyne (NYSE:AJRD) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Other research analysts also recently issued reports about the company. TheStreet upgraded Aerojet Rocketdyne from a c+ rating to a b rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Aerojet Rocketdyne from a hold rating to a buy rating and set a $36.00 target price for the company in a research report on Tuesday, October 23rd. Finally, SunTrust Banks raised their price target on Aerojet Rocketdyne from $36.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, August 21st.

NYSE AJRD opened at $36.86 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.24 and a debt-to-equity ratio of 0.90. The company has a market cap of $2.89 billion, a PE ratio of 49.81, a PEG ratio of 4.34 and a beta of 0.91. Aerojet Rocketdyne has a one year low of $24.41 and a one year high of $38.50.

Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Tuesday, October 30th. The aerospace company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.13. The firm had revenue of $497.20 million during the quarter, compared to the consensus estimate of $479.64 million. Aerojet Rocketdyne had a return on equity of 42.70% and a net margin of 3.11%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, sell-side analysts expect that Aerojet Rocketdyne will post 1.42 EPS for the current year.

In related news, Director Martin Turchin sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $36.43, for a total value of $182,150.00. Following the completion of the sale, the director now directly owns 90,650 shares in the company, valued at $3,302,379.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC lifted its position in Aerojet Rocketdyne by 15.4% in the second quarter. Meadow Creek Investment Management LLC now owns 11,116 shares of the aerospace company’s stock worth $328,000 after buying an additional 1,484 shares during the last quarter. NumerixS Investment Technologies Inc increased its stake in Aerojet Rocketdyne by 28.7% in the second quarter. NumerixS Investment Technologies Inc now owns 7,720 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 1,720 shares during the period. LS Investment Advisors LLC increased its stake in Aerojet Rocketdyne by 99.3% in the second quarter. LS Investment Advisors LLC now owns 4,556 shares of the aerospace company’s stock worth $134,000 after purchasing an additional 2,270 shares during the period. IMA Wealth Inc. increased its stake in Aerojet Rocketdyne by 2.3% in the second quarter. IMA Wealth Inc. now owns 148,930 shares of the aerospace company’s stock worth $4,392,000 after purchasing an additional 3,310 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Aerojet Rocketdyne by 801.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,877 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 3,447 shares during the period.

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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