Oppenheimer Initiates Coverage on AEVEX (NYSE:AVEX)

Key Points

• Oppenheimer initiated coverage of AEVEX with an “outperform” rating and a $21 price target, implying approximately 117% upside from the stock’s $9.66 opening price.
• AEVEX shares have fallen sharply, trading near their 12-month low of $9.64 versus a high of $42.34. The company’s latest quarter exceeded revenue expectations but missed EPS estimates, reporting $201.8 million in revenue and $0.01 EPS.
• Analyst sentiment is broadly positive, with 10 Buy ratings, two Holds, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $31.40. Several institutional investors, including Alyeska Investment Group and State Street, recently initiated positions.

Research analysts at Oppenheimer began coverage on shares of AEVEX (NYSE:AVEX - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The firm set an "outperform" rating and a $21.00 price target on the stock. Oppenheimer's target price would indicate a potential upside of 117.39% from the company's current price.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada reduced their price objective on shares of AEVEX from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, October 12th. Weiss Ratings began coverage on shares of AEVEX in a research report on Friday, August 14th. They set a "sell (d)" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of AEVEX in a research note on Thursday, August 13th. Jefferies Financial Group assumed coverage on AEVEX in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Piper Sandler initiated coverage on AEVEX in a research note on Wednesday, September 2nd. They set a "neutral" rating and a $20.00 price objective for the company. Ten equities research 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.com, the company has an average rating of "Moderate Buy" and an average target price of $31.40.

AEVEX Trading Down 32.6%

Shares of AVEX stock opened at $9.66 on Thursday. The stock has a 50-day moving average price of $16.30. The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50. AEVEX has a 12 month low of $9.64 and a 12 month high of $42.34.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new position in AEVEX during the second quarter valued at approximately $19,903,000. State Street Corp bought a new position in shares of AEVEX during the second quarter worth $6,885,000. Concurrent Investment Advisors LLC bought a new position in shares of AEVEX during the second quarter worth $2,381,000. Readystate Asset Management LP acquired a new position in shares of AEVEX in the 2nd quarter valued at $1,044,000. Finally, WINTON GROUP Ltd acquired a new position in shares of AEVEX in the 2nd quarter valued at $343,000.

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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