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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and JAMES DETAR

Aerojet Rocketdyne Stock Climbs; Rating Launches To New Level

Talk about a company in a future-facing industry! Aerojet Rocketdyne, whose roots go back to 1942, makes satellite, power and propulsion systems for the aerospace and defense industries. And Rocketdyne stock just cleared a key benchmark, as its Relative Strength Rating rocketed to 89, up from 78 the day before.

The 89 RS Rating means that Aerojet Rocketdyne stock is in the top 11% of stocks on price performance. The RS Rating is a 1-99 score of a stock's 12-month performance. Leading stocks tend to have RS Ratings of 80 before big price runs.

See How IBD Helps You Make More Money In Stocks

Rocketdyne Stock Pauses, Then Resumes Flight

After a blip at the end of last year, earnings growth for the El Segundo, Calif.-based company picked up again this year. The company posted a 22% increase in first quarter earnings to 44 cents per share. Last year, following increases of 28% and 53% in Q2 and Q3, Rocketdyne earnings dipped 9% in the December quarter before turning up again. Sales last quarter edged up 3% to $511.1 million.

Rocketdyne stock rose 1.5% Wednesday to 43.14. It's building a consolidation with a 47.45 buy point. See if the stock can clear the breakout price in volume at least 40% above average.

Rocketdyne stock earns the No. 7 rank among the 60 companies in the Aerospace/Defense industry group. The group ranks a strong No. 31 on IBD's list of 197 industries. Heico and Hexcel are also among the group's highest-rated stocks.

Please follow James DeTar on Twitter @JimDeTar 

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