Canaccord Genuity Keeps Their Buy Rating on Aerojet Rocketdyne Holdings (AJRD)


Canaccord Genuity analyst Kenneth Herbert maintained a Buy rating on Aerojet Rocketdyne Holdings (AJRD) today and set a price target of $54.00. The company’s shares closed last Friday at $43.54.

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 17.2% and a 68.4% success rate. Herbert covers the Technology sector, focusing on stocks such as Rada Electronics Industries, CPI Aerostructures, and Spirit AeroSystems.

Aerojet Rocketdyne Holdings has an analyst consensus of Strong Buy, with a price target consensus of $56.00, which is a 30.5% upside from current levels. In a report issued on July 28, Truist Financial also maintained a Buy rating on the stock with a $60.00 price target.

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Based on Aerojet Rocketdyne Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $476 million and net profit of $31.4 million. In comparison, last year the company earned revenue of $485 million and had a net profit of $44.1 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AJRD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Aerojet Rocketdyne Holdings, Inc. engages in providing solutions in the field of aerospace and defense, as well as in the field of real estate. It operates through the following business segments: Aerospace & Defense, and Real Estate. The Aerospace & Defense segment operates through the Aerojet Rocketdyne, Inc. in developing and manufacturing of aerospace and defense products and systems for the United States government, the National Aeronautics and Space Administration, major aerospace and defense prime contractors as well as portions of the commercial sector. The Real Estate segment operates through Easton Development Company, LLC in re-zoning, entitlement, sale, and leasing of excess real estate assets. The company was founded by William O’Neil on September 29, 1915 and is headquartered in El Segundo, CA.

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