Aerojet Rocketdyne (NYSE:AJRD) Stock Rating Reaffirmed by SunTrust Banks

Aerojet Rocketdyne (NYSE:AJRD)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks in a report released on Thursday. They presently have a $56.00 price target on the aerospace company’s stock, up from their previous price target of $45.00. SunTrust Banks’ price objective would suggest a potential upside of 39.34% from the stock’s current price.

A number of other analysts have also weighed in on AJRD. Canaccord Genuity reiterated a “buy” rating and issued a $54.00 target price on shares of Aerojet Rocketdyne in a research note on Thursday, April 30th. Royal Bank of Canada started coverage on Aerojet Rocketdyne in a research note on Wednesday. They set a “sector perform” rating and a $45.00 price target on the stock. Finally, TheStreet downgraded Aerojet Rocketdyne from a “b-” rating to a “c+” rating in a research report on Monday, March 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.67.

Aerojet Rocketdyne stock traded down $0.60 during midday trading on Thursday, hitting $40.19. The stock had a trading volume of 612,310 shares, compared to its average volume of 736,342. The firm’s fifty day moving average is $41.39 and its two-hundred day moving average is $45.90. The company has a market capitalization of $3.20 billion, a PE ratio of 25.49 and a beta of 0.44. Aerojet Rocketdyne has a 52-week low of $34.01 and a 52-week high of $57.27. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.63.

Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Tuesday, April 28th. The aerospace company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). The firm had revenue of $476.10 million for the quarter, compared to the consensus estimate of $518.50 million. Aerojet Rocketdyne had a net margin of 6.80% and a return on equity of 21.60%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities research analysts predict that Aerojet Rocketdyne will post 1.68 earnings per share for the current fiscal year.

In related news, COO Mark A. Tucker sold 12,594 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $52.07, for a total transaction of $655,769.58. Following the sale, the chief operating officer now owns 161,921 shares of the company’s stock, valued at $8,431,226.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AJRD. First Trust Advisors LP boosted its holdings in Aerojet Rocketdyne by 20.9% in the first quarter. First Trust Advisors LP now owns 102,395 shares of the aerospace company’s stock worth $3,638,000 after acquiring an additional 17,684 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Aerojet Rocketdyne by 9.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,500 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 392 shares in the last quarter. Welch Group LLC acquired a new stake in Aerojet Rocketdyne in the fourth quarter worth about $137,000. Reinhart Partners Inc. boosted its holdings in Aerojet Rocketdyne by 89.2% in the fourth quarter. Reinhart Partners Inc. now owns 448,173 shares of the aerospace company’s stock worth $20,463,000 after acquiring an additional 211,329 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Aerojet Rocketdyne by 59.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 50,350 shares of the aerospace company’s stock worth $2,299,000 after acquiring an additional 18,700 shares in 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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Analyst Recommendations for Aerojet Rocketdyne (NYSE:AJRD)

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