AEVEX (NYSE:AVEX) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• AEVEX reported quarterly EPS of $0.07, beating analysts’ consensus estimate of $0.06 by $0.01.
• Shares rose to $22.53, while the company’s market capitalization stood at approximately $2.57 billion; the stock has traded between $13.07 and $42.34 over the past year.
• Analyst sentiment remains positive, with nine Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $35.62. Major shareholder Madison Dearborn Partners separately sold 2.27 million shares for about $59.1 million.

AEVEX (NYSE:AVEX - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01, Zacks reports.

AEVEX Stock Performance

NYSE:AVEX traded up $0.38 on Wednesday, hitting $22.53. The stock had a trading volume of 2,658,279 shares, compared to its average volume of 2,468,598. AEVEX has a 1 year low of $13.07 and a 1 year high of $42.34. The firm's fifty day simple moving average is $18.53. The company has a current ratio of 2.69, a quick ratio of 2.63 and a debt-to-equity ratio of 1.15. The firm has a market cap of $2.57 billion and a PE ratio of 90.12.

Insider Buying and Selling at AEVEX

In other news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the company's 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AVEX shares. Robert W. Baird started coverage on AEVEX in a research note on Tuesday, May 12th. They issued an "outperform" rating and a $38.00 price objective on the stock. The Goldman Sachs Group began coverage on AEVEX in a research note on Tuesday, May 12th. They issued a "buy" rating and a $34.00 price target on the stock. Zacks Research raised shares of AEVEX to a "hold" rating in a research report on Wednesday, May 13th. Raymond James Financial started coverage on shares of AEVEX in a research note on Tuesday, May 12th. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted 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. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, AEVEX has an average rating of "Moderate Buy" and an average target price of $35.62.

About AEVEX

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.

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