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

A number of other research analysts also recently weighed in on the company. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aerojet Rocketdyne Holdings in a report on Wednesday, September 27th. BidaskClub upgraded Aerojet Rocketdyne Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 23rd. Finally, CL King upgraded Aerojet Rocketdyne Holdings from a “neutral” rating to a “buy” rating in a research note on Friday, September 22nd. One research 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.33.

Aerojet Rocketdyne Holdings (AJRD) traded down 0.49% on Wednesday, hitting $34.81. The company had a trading volume of 615,913 shares. Aerojet Rocketdyne Holdings has a one year low of $16.04 and a one year high of $36.25. The stock has a market capitalization of $2.61 billion, a PE ratio of 67.46 and a beta of 1.50. The stock has a 50 day moving average of $30.11 and a 200-day moving average of $24.17.

Aerojet Rocketdyne Holdings (NYSE:AJRD) last posted its earnings results on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.17. Aerojet Rocketdyne Holdings had a return on equity of 153.06% and a net margin of 2.00%. The firm had revenue of $459.60 million for the quarter, compared to the consensus estimate of $433.71 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts anticipate that Aerojet Rocketdyne Holdings will post $0.90 EPS for the current year.

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Several institutional investors have recently bought and sold shares of AJRD. BlackRock Inc. grew its stake in shares of Aerojet Rocketdyne Holdings by 208,237.4% in the 1st quarter. BlackRock Inc. now owns 9,712,688 shares of the aerospace company’s stock worth $210,766,000 after buying an additional 9,708,026 shares during the last quarter. State Street Corp grew its stake in shares of Aerojet Rocketdyne Holdings by 25.4% in the 2nd quarter. State Street Corp now owns 2,139,438 shares of the aerospace company’s stock worth $44,504,000 after buying an additional 433,398 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Aerojet Rocketdyne Holdings by 42.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,440,290 shares of the aerospace company’s stock worth $29,958,000 after buying an additional 427,755 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Aerojet Rocketdyne Holdings by 422.3% in the 2nd quarter. Teachers Advisors LLC now owns 527,684 shares of the aerospace company’s stock worth $10,976,000 after buying an additional 426,661 shares during the last quarter. Finally, Walthausen & Co. LLC purchased a new stake in shares of Aerojet Rocketdyne Holdings in the 2nd quarter worth approximately $6,984,000. Institutional investors own 93.31% of the company’s stock.

About Aerojet Rocketdyne Holdings

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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