AEVEX (NYSE:AVEX) Sets New 52-Week Low – Here’s Why

AEVEX Corp. (NYSE:AVEX)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $9.59 and last traded at $9.73, with a volume of 475,316 shares trading hands. The stock had previously closed at $10.38.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of AEVEX in a report on Thursday, October 22nd. UBS Group set a $13.00 price target on AEVEX in a report on Thursday, October 22nd. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of AEVEX in a research report on Thursday, August 13th. Oppenheimer began coverage on shares of AEVEX in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Piper Sandler dropped their target price on shares of AEVEX from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.73.

AEVEX Stock Up 10.3%

The stock has a market capitalization of $1.16 billion and a price-to-earnings ratio of 31.91. The business has a 50-day moving average price of $14.48. The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50.

AEVEX (NYSE:AVEX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $201.79 million during the quarter, compared to analysts’ expectations of $155.15 million. The firm’s revenue was up 99.5% on a year-over-year basis. Equities analysts predict that AEVEX Corp. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On AEVEX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of AEVEX in the 3rd quarter worth about $30,000. State of Alaska Department of Revenue acquired a new stake in shares of AEVEX in the third quarter valued at approximately $45,000. SBI Securities Co. Ltd. increased its holdings in shares of AEVEX by 157.2% in the third quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company’s stock valued at $82,000 after purchasing an additional 3,302 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in AEVEX in the 3rd quarter worth approximately $130,000. Finally, HighTower Advisors LLC bought a new position in AEVEX in the 2nd quarter worth approximately $269,000.

AEVEX Company Profile

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.