Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) – Investment analysts at SunTrust Banks lifted their FY2018 earnings per share (EPS) estimates for shares of Aerojet Rocketdyne in a note issued to investors on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings of $1.65 per share for the year, up from their previous forecast of $1.34. SunTrust Banks has a “Buy” rating and a $40.00 price target on the stock. SunTrust Banks also issued estimates for Aerojet Rocketdyne’s FY2019 earnings at $1.94 EPS.
Aerojet Rocketdyne (NYSE:AJRD) last announced its quarterly earnings data on Thursday, November 2nd. The aerospace company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Aerojet Rocketdyne had a net margin of 3.24% and a return on equity of 60.91%. The firm had revenue of $484.00 million during the quarter, compared to the consensus estimate of $487.48 million. Aerojet Rocketdyne’s revenue was up 4.3% on a year-over-year basis.
A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. BidaskClub downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Jefferies Group downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.33.
Aerojet Rocketdyne (NYSE AJRD) opened at $26.98 on Wednesday. Aerojet Rocketdyne has a 12-month low of $17.75 and a 12-month high of $36.25. The company has a market cap of $2,070.00, a PE ratio of 32.12, a PEG ratio of 5.50 and a beta of 1.41. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.66 and a quick ratio of 1.38.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Aerojet Rocketdyne by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 8,644 shares of the aerospace company’s stock worth $180,000 after buying an additional 35 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Aerojet Rocketdyne by 0.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 9,824 shares of the aerospace company’s stock worth $204,000 after purchasing an additional 67 shares in the last quarter. HighTower Advisors LLC raised its stake in Aerojet Rocketdyne by 1.2% in the 2nd quarter. HighTower Advisors LLC now owns 64,970 shares of the aerospace company’s stock worth $1,343,000 after purchasing an additional 759 shares in the last quarter. Alliancebernstein L.P. raised its stake in Aerojet Rocketdyne by 0.9% in the 2nd quarter. Alliancebernstein L.P. now owns 91,126 shares of the aerospace company’s stock worth $1,895,000 after purchasing an additional 800 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Aerojet Rocketdyne by 18.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock worth $126,000 after purchasing an additional 925 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.
In other news, Director James R. Henderson sold 53,234 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $29.97, for a total transaction of $1,595,422.98. Following the completion of the sale, the director now owns 113,341 shares in the company, valued at approximately $3,396,829.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martin Turchin sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $30.73, for a total transaction of $307,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 88,235 shares of company stock valued at $2,652,753. Insiders own 2.70% of the company’s stock.
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About Aerojet Rocketdyne
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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