AEVEX (NYSE:AVEX) Stock Price Target Lowered at Piper Sandler

Key Points

• Piper Sandler cut AEVEX’s price target from $20 to $13 and maintained a “neutral” rating, implying approximately 34.6% upside from the stock’s current price.
• AEVEX shares opened at $9.66, down 32.6%, near their 52-week low of $9.64 versus a high of $42.34. Despite the decline, analysts’ average rating remains “Moderate Buy,” with a consensus target of $30.70.
• The company reported quarterly revenue of $201.79 million, up 99.5% year over year and above estimates, but earnings per share of $0.01 missed expectations of $0.06.

AEVEX (NYSE:AVEX - Get Free Report) had its target price decreased by analysts at Piper Sandler from $20.00 to $13.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price would indicate a potential upside of 34.58% from the stock's current price.

AVEX has been the subject of several other reports. Royal Bank Of Canada decreased their target price on shares of AEVEX from $31.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday, October 12th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of AEVEX in a research report on Thursday, August 13th. Jefferies Financial Group restated a "buy" rating on shares of AEVEX in a research note on Thursday. Oppenheimer began coverage on shares of AEVEX in a research note on Thursday. They set an "outperform" rating and a $21.00 price objective on the stock. Finally, Weiss Ratings initiated coverage on shares of AEVEX in a report on Friday, August 14th. They set a "sell (d)" rating for the company. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AEVEX presently has an average rating of "Moderate Buy" and a consensus target price of $30.70.

AEVEX Stock Down 32.6%

NYSE:AVEX opened at $9.66 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.50 and a current ratio of 5.66. The stock has a market capitalization of $1.10 billion and a P/E ratio of 30.19. The stock's 50 day moving average is $16.30. AEVEX has a fifty-two week low of $9.64 and a fifty-two week high of $42.34.

AEVEX (NYSE:AVEX - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The company had revenue of $201.79 million during the quarter, compared to analysts' expectations of $155.15 million. The business's revenue was up 99.5% on a year-over-year basis. Research analysts forecast that AEVEX will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AEVEX

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its stake in AEVEX by 157.2% during the third quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company's stock valued at $82,000 after purchasing an additional 3,302 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of AEVEX in the 3rd quarter worth about $45,000. State Street Corp bought a new position in shares of AEVEX in the 2nd quarter worth about $6,885,000. WINTON GROUP Ltd acquired a new position in shares of AEVEX in the 2nd quarter valued at about $343,000. Finally, HighTower Advisors LLC acquired a new position in shares of AEVEX in the 2nd quarter valued at about $269,000.

About AEVEX

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.

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