Applied Aerospace & Defense (NYSE:AADX) Hits New 12-Month Low – What’s Next?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $10.86 and last traded at $10.88, with a volume of 806,566 shares changing hands. The stock had previously closed at $11.45.

Analysts Set New Price Targets

Several analysts have commented on AADX shares. Guggenheim started coverage on shares of Applied Aerospace & Defense in a research report on Monday, September 14th. They issued a “buy” rating and a $30.00 target price for the company. UBS Group set a $24.00 price target on shares of Applied Aerospace & Defense in a report on Sunday, June 28th. Morgan Stanley lifted their price objective on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Royal Bank Of Canada began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued a “moderate buy” rating and a $24.00 price objective for the company. Finally, Bank of America decreased their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Applied Aerospace & Defense Stock Down 5.1%

The firm’s 50-day moving average is $14.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.08 and a current ratio of 2.51. The stock has a market capitalization of $1.87 billion and a P/E ratio of -43.48.

Applied Aerospace & Defense (NYSE:AADX) last posted its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. Analysts expect that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in Applied Aerospace & Defense during the 2nd quarter valued at approximately $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new position in Applied Aerospace & Defense in the 2nd quarter worth approximately $3,044,000. Squarepoint Ops LLC bought a new position in Applied Aerospace & Defense in the 2nd quarter worth approximately $1,232,000. Readystate Asset Management LP acquired a new position in shares of Applied Aerospace & Defense during the second quarter worth approximately $752,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Applied Aerospace & Defense during the third quarter worth approximately $120,000.

Applied Aerospace & Defense Company Profile

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.