Analysts Set $36.33 Target Price for Aerojet Rocketdyne Holdings, Inc. (AJRD)
Shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) have been assigned an average broker rating score of 1.75 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company.
Analysts have set a twelve-month consensus target price of $36.33 for the company and are anticipating that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Aerojet Rocketdyne an industry rank of 110 out of 265 based on the ratings given to its competitors.
A number of research firms have issued reports on AJRD. Zacks Investment Research raised Aerojet Rocketdyne from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research report on Wednesday, January 10th. SunTrust Banks reissued a “buy” rating and issued a $40.00 target price on shares of Aerojet Rocketdyne in a research report on Friday, November 3rd. BidaskClub downgraded Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Jefferies Group downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research report on Monday, October 23rd.
In other Aerojet Rocketdyne news, Director Martin Turchin sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $30.73, for a total value of $307,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Aerojet Rocketdyne in the third quarter valued at $101,000. IFP Advisors Inc grew its position in shares of Aerojet Rocketdyne by 1,129.9% in the fourth quarter. IFP Advisors Inc now owns 3,542 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 3,254 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Aerojet Rocketdyne by 18.0% in the second quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock valued at $126,000 after purchasing an additional 925 shares in the last quarter. Greenleaf Trust grew its position in shares of Aerojet Rocketdyne by 97.2% in the fourth quarter. Greenleaf Trust now owns 4,300 shares of the aerospace company’s stock valued at $134,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of Aerojet Rocketdyne in the third quarter valued at $136,000. Institutional investors own 97.06% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aerojet Rocketdyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerojet Rocketdyne and related companies with MarketBeat.com's FREE daily email newsletter.