Applied Aerospace & Defense (NYSE:AADX) Reaches New 1-Year Low – Should You Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $16.57 and last traded at $16.70, with a volume of 304623 shares changing hands. The stock had previously closed at $17.27.

Analysts Set New Price Targets

A number of brokerages have recently commented on AADX. Wall Street Zen raised Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada started coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set a “moderate buy” rating and a $24.00 price objective on the stock. UBS Group set a $24.00 target price on shares of Applied Aerospace & Defense in a research report on Sunday, June 28th. Morgan Stanley upped their price target on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, Stifel Nicolaus started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Applied Aerospace & Defense presently has an average rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Stock Down 9.8%

The business has a 50 day moving average of $19.70.

Applied Aerospace & Defense (NYSE:AADX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($1.05). The business had revenue of $167.32 million for the quarter. Equities analysts predict that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Insider Activity

In related news, Director James C. Katzman acquired 25,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the purchase, the director directly owned 29,250 shares of the company’s stock, valued at approximately $585,000. This trade represents a 588.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan D. Lynch bought 8,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $20.00 per share, with a total value of $160,000.00. Following the acquisition, the director owned 8,000 shares in the company, valued at approximately $160,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 58,500 shares of company stock valued at $1,170,000 in the last ninety days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Applied Aerospace & Defense stock. Wellington Management Group LLP acquired a new position in Applied Aerospace & Defense, Inc. (NYSE:AADX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 367,577 shares of the company’s stock, valued at approximately $8,373,000. Wellington Management Group LLP owned 0.22% of Applied Aerospace & Defense at the end of the most recent reporting period.

About Applied Aerospace & Defense

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.