Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Aerojet Rocketdyne Holdings, Inc. focuses on developing military, civil and commercial systems and components for the aerospace and defense industry markets. Aerojet Rocketdyne Holdings, Inc., formerly known as GenCorp, Inc., is headquartered in Sacramento, California. “

Other analysts also recently issued reports about the company. BidaskClub upgraded Aerojet Rocketdyne Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. CL King upgraded Aerojet Rocketdyne Holdings from a “neutral” rating to a “buy” rating in a report on Friday, September 22nd. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Aerojet Rocketdyne Holdings in a report on Wednesday, September 27th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Aerojet Rocketdyne Holdings currently has a consensus rating of “Buy” and a consensus price target of $27.33.

Aerojet Rocketdyne Holdings (NYSE:AJRD) opened at 34.84 on Wednesday. The company has a 50 day moving average of $30.54 and a 200 day moving average of $24.32. Aerojet Rocketdyne Holdings has a 52 week low of $16.04 and a 52 week high of $36.25. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 67.52 and a beta of 1.50.

Aerojet Rocketdyne Holdings (NYSE:AJRD) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.17. The firm had revenue of $459.60 million during the quarter, compared to the consensus estimate of $433.71 million. Aerojet Rocketdyne Holdings had a return on equity of 153.06% and a net margin of 2.00%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, equities analysts forecast that Aerojet Rocketdyne Holdings will post $0.90 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in AJRD. BlackRock Inc. raised its holdings in Aerojet Rocketdyne Holdings by 208,237.4% in the first quarter. BlackRock Inc. now owns 9,712,688 shares of the aerospace company’s stock worth $210,766,000 after purchasing an additional 9,708,026 shares in the last quarter. State Street Corp raised its holdings in Aerojet Rocketdyne Holdings by 25.4% in the second quarter. State Street Corp now owns 2,139,438 shares of the aerospace company’s stock worth $44,504,000 after purchasing an additional 433,398 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Aerojet Rocketdyne Holdings by 42.2% in the second quarter. Bank of New York Mellon Corp now owns 1,440,290 shares of the aerospace company’s stock worth $29,958,000 after purchasing an additional 427,755 shares in the last quarter. Teachers Advisors LLC raised its holdings in Aerojet Rocketdyne Holdings by 422.3% in the second quarter. Teachers Advisors LLC now owns 527,684 shares of the aerospace company’s stock worth $10,976,000 after purchasing an additional 426,661 shares in the last quarter. Finally, Walthausen & Co. LLC bought a new position in Aerojet Rocketdyne Holdings in the second quarter worth about $6,984,000. Institutional investors and hedge funds own 93.31% 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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