Aerojet Rocketdyne Holdings, Inc. (AJRD) Rating Lowered to Buy at BidaskClub

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other research analysts have also recently issued reports on AJRD. Zacks Investment Research raised shares of Aerojet Rocketdyne Holdings from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a report on Tuesday, August 8th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Aerojet Rocketdyne Holdings in a report on Wednesday, September 27th. CL King raised shares of Aerojet Rocketdyne Holdings from a “neutral” rating to a “buy” rating in a report on Friday, September 22nd. Finally, Jefferies Group LLC cut shares of Aerojet Rocketdyne Holdings from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Monday, October 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Aerojet Rocketdyne Holdings currently has an average rating of “Buy” and an average price target of $29.67.

Aerojet Rocketdyne Holdings (NYSE:AJRD) last posted its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.17. The firm had revenue of $459.60 million during the quarter, compared to analysts’ expectations of $433.71 million. Aerojet Rocketdyne Holdings had a net margin of 2.00% and a return on equity of 153.06%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share.

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A number of institutional investors and hedge funds have recently modified their holdings of AJRD. UBS Asset Management Americas Inc. grew its position in Aerojet Rocketdyne Holdings by 174.1% during the first quarter. UBS Asset Management Americas Inc. now owns 35,354 shares of the aerospace company’s stock worth $767,000 after buying an additional 22,456 shares during the period. Parametric Portfolio Associates LLC grew its position in Aerojet Rocketdyne Holdings by 5.5% during the first quarter. Parametric Portfolio Associates LLC now owns 52,569 shares of the aerospace company’s stock worth $1,141,000 after buying an additional 2,728 shares during the period. JPMorgan Chase & Co. grew its position in Aerojet Rocketdyne Holdings by 56.1% during the first quarter. JPMorgan Chase & Co. now owns 210,858 shares of the aerospace company’s stock worth $4,576,000 after buying an additional 75,791 shares during the period. Teachers Advisors LLC grew its position in Aerojet Rocketdyne Holdings by 1.3% during the first quarter. Teachers Advisors LLC now owns 101,023 shares of the aerospace company’s stock worth $2,192,000 after buying an additional 1,310 shares during the period. Finally, Legal & General Group Plc grew its position in Aerojet Rocketdyne Holdings by 8.5% during the first quarter. Legal & General Group Plc now owns 127,731 shares of the aerospace company’s stock worth $2,773,000 after buying an additional 10,010 shares during the period. Institutional investors own 93.27% of the company’s stock.

Aerojet Rocketdyne Holdings Company Profile

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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