Applied Aerospace & Defense (NYSE:AADX) Upgraded by Guggenheim to "Strong-Buy" Rating

Key Points

• Guggenheim upgraded Applied Aerospace & Defense to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $25.22.
• AADX opened at $12.63, well below its 52-week high of $24.24, after reporting a quarterly loss of $1.04 per share that missed estimates by $1.05; quarterly revenue was $167.32 million.
• Several institutional investors initiated positions during the second quarter, including Wellington Management, which purchased approximately $8.4 million in shares.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) was upgraded by equities researchers at Guggenheim to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Several other brokerages have also issued reports on AADX. Morgan Stanley upped their target price on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. UBS Group set a $24.00 price target on shares of Applied Aerospace & Defense in a research note on Sunday, June 28th. Bank of America lowered 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. Jefferies Financial Group raised shares of Applied Aerospace & Defense to a "strong-buy" rating in a research note on Monday, June 29th. Finally, Stifel Nicolaus assumed coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set a "buy" rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Applied Aerospace & Defense has an average rating of "Moderate Buy" and an average target price of $25.22.

Applied Aerospace & Defense Trading Up 3.4%

AADX opened at $12.63 on Monday. The company has a fifty day moving average price of $16.59. Applied Aerospace & Defense has a 52 week low of $11.39 and a 52 week high of $24.24.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $167.32 million during the quarter. As a group, sell-side analysts anticipate that Applied Aerospace & Defense will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors and hedge funds have recently bought and sold shares of the stock. Readystate Asset Management LP bought a new stake in Applied Aerospace & Defense in the second quarter valued at approximately $752,000. Squarepoint Ops LLC bought a new position in shares of Applied Aerospace & Defense in the second quarter worth approximately $1,232,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Applied Aerospace & Defense in the second quarter worth approximately $3,044,000. Finally, Wellington Management Group LLP purchased a new position in shares of Applied Aerospace & Defense in the second quarter worth $8,373,000.

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.

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