AEVEX (NYSE:AVEX) Shares Gap Down – Here’s Why

AEVEX Corp. (NYSE:AVEX) shares gapped down prior to trading on Thursday . The stock had previously closed at $22.75, but opened at $21.59. AEVEX shares last traded at $21.29, with a volume of 411,727 shares changing hands.

Wall Street Analyst Weigh In

AVEX has been the topic of a number of research reports. William Blair initiated coverage on shares of AEVEX in a research note on Tuesday, May 12th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of AEVEX from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Robert W. Baird began coverage on AEVEX in a report on Tuesday, May 12th. They set an “outperform” rating and a $38.00 price target for the company. Royal Bank Of Canada initiated coverage on shares of AEVEX in a research report on Tuesday, May 12th. They set an “outperform” rating and a $31.00 price objective for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $33.00 target price on shares of AEVEX in a research report on Monday, May 25th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, AEVEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.62.

AEVEX Trading Up 2.5%

The firm has a market capitalization of $2.44 billion and a price-to-earnings ratio of 85.68. The company has a current ratio of 5.66, a quick ratio of 2.63 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $18.33.

Insider Activity at AEVEX

In other news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $25.99, for a total value of $59,097,179.57. Following the completion of the sale, the insider directly owned 22,861,457 shares of the company’s stock, valued at $594,169,267.43. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

AEVEX Company Profile

AEVEX Corp. is a holding company which designs, manufactures and provides autonomous systems and navigation technologies. The company’s operating segment includes tactical systems and global solutions. AEVEX Corp. is based in Solana Beach, California.