AEVEX (NYSE:AVEX) Issues Quarterly Earnings Results

AEVEX (NYSE:AVEX) posted its earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21, Zacks reports.

AEVEX Price Performance

Shares of AVEX traded up $0.63 during trading hours on Wednesday, reaching $12.23. 2,023,360 shares of the company’s stock traded hands, compared to its average volume of 2,180,402. The stock has a market cap of $1.39 billion and a PE ratio of 38.22. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15. The firm’s 50 day simple moving average is $14.23 and its 200-day simple moving average is $19.40. AEVEX has a 12 month low of $8.95 and a 12 month high of $42.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of AEVEX from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. UBS Group set a $13.00 price objective on shares of AEVEX in a research note on Thursday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of AEVEX in a report on Thursday, October 22nd. Royal Bank Of Canada decreased their target price on shares of AEVEX from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Finally, Oppenheimer started coverage on shares of AEVEX in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AEVEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.73.

About AEVEX

AEVEX Corporation (NYSE: AVEX) provides defense and intelligence customers with unmanned aircraft systems and related mission solutions. Its work includes designing, building and integrating aircraft, sensors and other mission equipment for operational use. The company also offers engineering, training and operational support services. These capabilities help customers plan and conduct missions that rely on aerial surveillance, reconnaissance and other specialized aviation functions. AEVEX serves government and defense customers, including U.S. and allied users.