AEVEX (NYSE:AVEX) Price Target Cut to $26.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered AEVEX’s price target from $31 to $26 while maintaining an “outperform” rating, implying approximately 78% upside from the stock’s $14.61 price.
• Analyst sentiment remains generally positive: AEVEX has a consensus “Moderate Buy” rating and an average price target of $32.56, although coverage includes ratings ranging from “buy” to “sell.”
• AEVEX reported quarterly revenue of $201.79 million, up 99.5% year over year and above estimates, but earnings of $0.01 per share missed the $0.06 consensus forecast.

AEVEX (NYSE:AVEX - Get Free Report) had its price target lowered by equities researchers at Royal Bank Of Canada from $31.00 to $26.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 77.96% from the stock's current price.

Several other research firms have also recently issued reports on AVEX. Piper Sandler assumed coverage on shares of AEVEX in a report on Wednesday, September 2nd. They issued a "neutral" rating and a $20.00 price target on the stock. Jefferies Financial Group started coverage on shares of AEVEX in a report on Wednesday, September 23rd. They set a "buy" rating and a $26.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $45.00 price objective on shares of AEVEX in a report on Thursday, August 13th. Finally, Weiss Ratings began coverage on shares of AEVEX in a research report on Friday, August 14th. They issued a "sell (d)" rating for the company. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AEVEX has an average rating of "Moderate Buy" and a consensus target price of $32.56.

AEVEX Stock Down 0.1%

Shares of AVEX traded down $0.02 during trading on Monday, reaching $14.61. The company's stock had a trading volume of 114,693 shares, compared to its average volume of 2,081,780. The business's fifty day moving average price is $17.41. AEVEX has a twelve month low of $13.07 and a twelve month high of $42.34. The company has a market cap of $1.67 billion and a P/E ratio of 45.66. The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.50 and a current ratio of 5.66.

AEVEX (NYSE:AVEX - Get Free Report) last released its 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 firm had revenue of $201.79 million during the quarter, compared to the consensus estimate of $155.15 million. AEVEX's revenue was up 99.5% compared to the same quarter last year. As a group, equities analysts forecast that AEVEX will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On AEVEX

Several institutional investors and hedge funds have recently made changes to their positions in AVEX. Alyeska Investment Group L.P. bought a new position in AEVEX during the second quarter worth $19,903,000. State Street Corp acquired a new position in AEVEX in the second quarter worth $6,885,000. Concurrent Investment Advisors LLC bought a new stake in AEVEX during the second quarter valued at $2,381,000. Readystate Asset Management LP bought a new stake in AEVEX during the second quarter valued at $1,044,000. Finally, WINTON GROUP Ltd bought a new stake in AEVEX during the second quarter valued at $343,000.

AEVEX Company Profile

AEVEX Aerospace NYSE: AVEX is a defense technology company that develops and delivers aerospace, autonomous systems, and national security solutions. The company supports government and defense customers with capabilities spanning intelligence, surveillance and reconnaissance, precision effects, mission systems, and operational support.

Its offerings include unmanned aircraft systems, autonomous platforms, specialized payloads, counter-unmanned aircraft technologies, signals intelligence and geospatial intelligence solutions, as well as mission planning, training, sustainment, and modernization services.

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