Deep space travel is no longer the realm of science-fiction: NASA has an ambitious plan to send a man to Mars by 2030, notes Jimmy Mengel, editor of The Crow's Nest.

We have mega-billionaires like Elon Musk (SpaceX) and Jeff Bezos (Blue Origin) starting to drum up excitement for uncharted space exploration.

So today, we’re buying our first space stock: Aerojet Rocketdyne Holdings (AJRD), a technology-based company that provides providing innovative solutions to customers in the aerospace and defense industries.

While Musk and Bezos are just getting going, Aerojet Rocketdyne has been perfecting rockets for decades.

Their products were at the heart of the Space Age and integral in US efforts to defend itself and allies during World War II.

Today, they are a leader of innovation and technological advancements in both space exploration and missile defense for the United States.

They have two main subsidiaries: Aerojet Rocketdyne, that specializes in propulsion systems for space and defense applications.

NASA gave them a contract to develop an engine to support the Space Launch System, which is designed to replace outdated space shuttles. The contract runs through 2024 at $128 million per year.

They also signed a contract with Boeing (BA) valued at nearly $200 million that supports a new era of spaceflight - one that will carry humans to the International Space Station (ISS) from American soil.

They also just landed a brand new contract to design and deliver electrical power systems for the NASA Dream Chaser spacecraft, which will carry cargo to the International Space Station.

Now, the stock has been beaten down since last year after they lost a $100 million a year contract. But they seem to be headed back up and could continue that way over the next few years.

Aerojet Rocketdyne has a market cap of $1.22 billion. They had a solid first quarter, quadrupling their profit margin, boosting revenue 10.5% and turning a $0.06 net loss into a quarterly profit of $0.08 per share.

The stock is looking favorable by analysts that cover the company as well. One analyst has put a one-year price target of $35 on the stock. The consensus is closer to the $26 - $28 range.

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By Jimmy Mengel, Editor of The Crow's Nest