Aerojet Rocketdyne (NYSE:AJRD) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Aerojet Rocketdyne (NYSE:AJRDGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday.

A number of other brokerages have also weighed in on AJRD. Jefferies Financial Group upgraded shares of Aerojet Rocketdyne from a hold rating to a buy rating and lowered their price objective for the stock from $49.00 to $47.00 in a report on Tuesday, February 8th. JPMorgan Chase & Co. raised shares of Aerojet Rocketdyne from a neutral rating to an overweight rating and lifted their target price for the stock from $40.00 to $49.00 in a research note on Thursday, April 7th. Finally, Truist Financial decreased their target price on shares of Aerojet Rocketdyne from $51.00 to $36.00 in a research note on Thursday, February 24th.

Shares of AJRD opened at $39.89 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 21.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.35. Aerojet Rocketdyne has a fifty-two week low of $35.47 and a fifty-two week high of $49.84. The firm has a 50 day moving average price of $40.21 and a 200-day moving average price of $41.65.

Aerojet Rocketdyne (NYSE:AJRDGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $511.10 million during the quarter, compared to analyst estimates of $525.20 million. Aerojet Rocketdyne had a net margin of 6.96% and a return on equity of 37.15%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities research analysts predict that Aerojet Rocketdyne will post 1.96 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Aerojet Rocketdyne by 2.7% during the 4th quarter. BlackRock Inc. now owns 12,286,067 shares of the aerospace company’s stock valued at $574,497,000 after buying an additional 317,783 shares in the last quarter. Magnetar Financial LLC lifted its position in shares of Aerojet Rocketdyne by 2.0% during the third quarter. Magnetar Financial LLC now owns 2,729,948 shares of the aerospace company’s stock worth $118,889,000 after purchasing an additional 54,566 shares during the last quarter. Alpine Associates Management Inc. increased its stake in shares of Aerojet Rocketdyne by 2.1% during the fourth quarter. Alpine Associates Management Inc. now owns 2,606,048 shares of the aerospace company’s stock valued at $121,860,000 after buying an additional 52,415 shares during the period. Westchester Capital Management LLC increased its stake in shares of Aerojet Rocketdyne by 6.6% during the third quarter. Westchester Capital Management LLC now owns 1,409,060 shares of the aerospace company’s stock valued at $61,364,000 after buying an additional 87,418 shares during the period. Finally, Reinhart Partners Inc. purchased a new position in Aerojet Rocketdyne in the first quarter valued at about $55,105,000. Institutional investors and hedge funds own 96.67% of the company’s stock.

Aerojet Rocketdyne Company Profile (Get Rating)

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. It operates in 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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