Royal Bank Of Canada Has Lowered Expectations for Applied Aerospace & Defense (NYSE:AADX) Stock Price

Key Points

• Royal Bank of Canada lowered Applied Aerospace & Defense’s price target from $24 to $21 while maintaining an “outperform” rating, implying nearly 98% upside from the prior close.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $24.33, despite ratings ranging from “Strong Buy” to “Sell.”
• AADX shares fell 1.5% to $10.61, near their 52-week low, after the company reported a quarterly loss of $1.04 per share versus expectations for a $0.01 profit.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) had its price target decreased by equities researchers at Royal Bank Of Canada from $24.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 97.93% from the company's previous close.

A number of other research firms have also recently issued reports on AADX. UBS Group set a $24.00 target price on Applied Aerospace & Defense in a research note on Sunday, June 28th. Weiss Ratings started coverage on Applied Aerospace & Defense in a research report on Friday, August 28th. They issued a "sell (d)" rating on the stock. Wall Street Zen upgraded shares of Applied Aerospace & Defense from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Bank of America dropped their price target on Applied Aerospace & Defense from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, Jefferies Financial Group set a $20.00 price objective on Applied Aerospace & Defense in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Applied Aerospace & Defense currently has an average rating of "Moderate Buy" and an average target price of $24.33.

Applied Aerospace & Defense Stock Down 1.5%

AADX traded down $0.16 during midday trading on Tuesday, reaching $10.61. 278,254 shares of the company's stock were exchanged, compared to its average volume of 1,619,546. The company has a market cap of $1.83 billion and a price-to-earnings ratio of -42.44. Applied Aerospace & Defense has a one year low of $10.52 and a one year high of $24.24. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51. The company's 50-day moving average is $14.31.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.05). The firm had revenue of $167.32 million for the quarter. As a group, research analysts anticipate that Applied Aerospace & Defense will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Applied Aerospace & Defense in the 2nd quarter valued at approximately $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $3,044,000. Squarepoint Ops LLC acquired a new stake in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $1,232,000. Readystate Asset Management LP acquired a new stake in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $752,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Applied Aerospace & Defense during the 3rd quarter worth approximately $120,000.

Applied Aerospace & Defense Company Profile

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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