JP Morgan lifts Aerojet Rocketdyne Holdings Inc. [AJRD] price estimate. Who else is bullish?

Aerojet Rocketdyne Holdings Inc. [NYSE: AJRD] surged by $0.71 during the normal trading session on Monday and reaching a high of $55.8989 during the day while it closed the day at $55.60. The company report on December 18, 2022 that L3Harris to Acquire Aerojet Rocketdyne.

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L3Harris Technologies (NYSE: LHX) and Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) together announced the signing of a definitive agreement for L3Harris to acquire Aerojet Rocketdyne for $58 per share, in an all-cash transaction valued at $4.7 billion, inclusive of net debt.

This press release features multimedia. View the full release here:

Aerojet Rocketdyne Holdings Inc. stock has also gained 1.55% of its value over the past 7 days. However, AJRD stock has inclined by 28.17% in the 3 months of the year. Over the past six months meanwhile, it has gained 46.59% and gained 18.91% year-on date.

The market cap for AJRD stock reached $4.44 billion, with 80.30 million shares outstanding and 77.74 million shares in the current float. Compared to the average trading volume of 581.85K shares, AJRD reached a trading volume of 13308847 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Aerojet Rocketdyne Holdings Inc. [AJRD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AJRD shares is $53.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AJRD stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Aerojet Rocketdyne Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $49 to $47. The new note on the price target was released on February 08, 2022, representing the official price target for Aerojet Rocketdyne Holdings Inc. stock. Previously, the target price had yet another raise to $56, while Jefferies analysts kept a Hold rating on AJRD stock.

The Average True Range (ATR) for Aerojet Rocketdyne Holdings Inc. is set at 1.37, with the Price to Sales ratio for AJRD stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 8.50, with the Price to Cash per share for the same quarter was set at 4.30.

AJRD stock trade performance evaluation

Aerojet Rocketdyne Holdings Inc. [AJRD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.55. With this latest performance, AJRD shares gained by 9.04% in over the last four-week period, additionally plugging by 46.59% over the last 6 months – not to mention a rise of 20.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AJRD stock in for the last two-week period is set at 72.31, with the RSI for the last a single of trading hit 74.91, and the three-weeks RSI is set at 70.19 for Aerojet Rocketdyne Holdings Inc. [AJRD]. The present Moving Average for the last 50 days of trading for this stock 49.33, while it was recorded at 54.90 for the last single week of trading, and 43.14 for the last 200 days.

Aerojet Rocketdyne Holdings Inc. [AJRD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Aerojet Rocketdyne Holdings Inc. [AJRD] shares currently have an operating margin of +12.61 and a Gross Margin at +17.23. Aerojet Rocketdyne Holdings Inc.’s Net Margin is presently recorded at +6.53.

Return on Equity for this stock inclined to 37.24, with Return on Assets sitting at 5.10.

Aerojet Rocketdyne Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Aerojet Rocketdyne Holdings Inc. [AJRD] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AJRD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Aerojet Rocketdyne Holdings Inc. go to 12.30%.

Aerojet Rocketdyne Holdings Inc. [AJRD]: Insider Ownership positions

There are presently around $4,210 million, or 92.80% of AJRD stock, in the hands of institutional investors. The top three institutional holders of AJRD stocks are: BLACKROCK INC. with ownership of 13,245,162, which is approximately -2.164% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 8,171,176 shares of the stock with an approximate value of $454.32 million in AJRD stocks shares; and STEEL PARTNERS HOLDINGS L.P., currently with $219.59 million in AJRD stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Aerojet Rocketdyne Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 126 institutional holders increased their position in Aerojet Rocketdyne Holdings Inc. [NYSE:AJRD] by around 6,704,006 shares. Additionally, 143 investors decreased positions by around 7,127,217 shares, while 48 investors held positions by with 61,882,727 shares. The mentioned changes placed institutional holdings at 75,713,950 shares, according to the latest SEC report filing. AJRD stock had 33 new institutional investments in for a total of 3,260,637 shares, while 44 institutional investors sold positions of 2,614,373 shares during the same period.


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