Aerojet Rocketdyne (NYSE:AJRD) Coverage Initiated at StockNews.com

Posted by on Apr 27th, 2023

Equities research analysts at StockNews.com began coverage on shares of Aerojet Rocketdyne (NYSE:AJRD – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the aerospace company’s stock.

Separately, Truist Financial lifted their price target on shares of Aerojet Rocketdyne from $45.00 to $58.00 in a research note on Monday, January 9th.

Aerojet Rocketdyne Trading Down 0.1 %

Shares of Aerojet Rocketdyne stock opened at $56.37 on Thursday. The company’s fifty day simple moving average is $56.13 and its 200-day simple moving average is $53.65. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 62.63 and a beta of 0.57. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53. Aerojet Rocketdyne has a 1 year low of $36.44 and a 1 year high of $56.80.

Aerojet Rocketdyne (NYSE:AJRD – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.25). The company had revenue of $648.20 million during the quarter, compared to analyst estimates of $615.73 million. Aerojet Rocketdyne had a return on equity of 21.00% and a net margin of 3.31%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, sell-side analysts expect that Aerojet Rocketdyne will post 1.99 EPS for the current year.

Institutional Investors Weigh In On Aerojet Rocketdyne

Institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Aerojet Rocketdyne by 247.6% in the 1st quarter. US Bancorp DE now owns 643 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 458 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Aerojet Rocketdyne in the 4th quarter valued at $32,000. Signaturefd LLC boosted its stake in shares of Aerojet Rocketdyne by 109.4% in the 3rd quarter. Signaturefd LLC now owns 911 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 476 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Aerojet Rocketdyne by 316.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,340 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Aerojet Rocketdyne in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Aerojet Rocketdyne Company Profile

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Aerojet Rocketdyne Holdings, Inc engages in provision of solutions in the field of aerospace and defense, as well as in the field of real estate. It operates through the following business segments: Aerospace and Defense, and Real Estate. The Aerospace and Defense segment operates through Aerojet Rocketdyne, Inc in developing and manufacturing aerospace and defense products and systems for the United States government, the National Aeronautics and Space Administration, major aerospace and defense prime contractors as well as portions of the commercial sector.

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