Market Analysts see Aerojet Rocketdyne Holdings Inc. [AJRD] gaining to $49. Time to buy?

Aerojet Rocketdyne Holdings Inc. [NYSE: AJRD] traded at a low on 03/16/23, posting a -0.66 loss after which it closed the day’ session at $55.75. The company report on March 16, 2023 that Aerojet Rocketdyne Stockholders Approve Proposed Acquisition by L3Harris.

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“We are pleased with the strong support of our stockholders for this transaction with L3Harris,” said Eileen P. Drake, CEO and president of Aerojet Rocketdyne. “Today’s stockholder approval is another milestone in the process of bringing together our two world-class organizations to accelerate innovation and strengthen competition for national security and space exploration propulsion solutions. We remain focused on completing this transaction and delivering the significant expected benefits for our employees, customers, partners and the communities in which we operate.”.

The results of the trading session contributed to over 4038515 shares changing hands. Over the past one week, the price volatility of Aerojet Rocketdyne Holdings Inc. stands at 0.73% while the volatility over the past one month is 0.47%.

The market cap for AJRD stock reached $4.51 billion, with 80.30 million shares outstanding and 77.74 million shares in the current float. Compared to the average trading volume of 1.46M shares, AJRD reached a trading volume of 4038515 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $57.00 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 3.00. 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 0.32, with the Price to Sales ratio for AJRD stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 8.27, with the Price to Cash per share for the same quarter was set at 4.11.

How has AJRD stock performed recently?

Aerojet Rocketdyne Holdings Inc. [AJRD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.46. With this latest performance, AJRD shares dropped by -0.73% in over the last four-week period, additionally plugging by 26.33% over the last 6 months – not to mention a rise of 47.56% 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 42.90, with the RSI for the last a single of trading hit 37.14, and the three-weeks RSI is set at 49.63 for Aerojet Rocketdyne Holdings Inc. [AJRD]. The present Moving Average for the last 50 days of trading for this stock 55.99, while it was recorded at 55.91 for the last single week of trading, and 47.81 for the last 200 days.

Aerojet Rocketdyne Holdings Inc. [AJRD]: Deeper insight into the 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 +9.68 and a Gross Margin at +14.86. Aerojet Rocketdyne Holdings Inc.’s Net Margin is presently recorded at +3.30.

Return on Equity for this stock inclined to 13.73, with Return on Assets sitting at 2.90.

Aerojet Rocketdyne Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Earnings analysis for Aerojet Rocketdyne Holdings Inc. [AJRD]

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%.

Insider trade positions for Aerojet Rocketdyne Holdings Inc. [AJRD]

There are presently around $4,219 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 12,897,322, which is approximately -2.626% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 8,234,817 shares of the stock with an approximate value of $459.09 million in AJRD stocks shares; and STEEL PARTNERS HOLDINGS L.P., currently with $200.63 million in AJRD stock with ownership of nearly -8.881% of the company’s market capitalization.

Positions in Aerojet Rocketdyne Holdings Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 162 institutional holders increased their position in Aerojet Rocketdyne Holdings Inc. [NYSE:AJRD] by around 15,491,378 shares. Additionally, 144 investors decreased positions by around 15,481,431 shares, while 45 investors held positions by with 44,710,019 shares. The mentioned changes placed institutional holdings at 75,682,828 shares, according to the latest SEC report filing. AJRD stock had 84 new institutional investments in for a total of 8,024,889 shares, while 42 institutional investors sold positions of 5,424,410 shares during the same period.


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