Applied Aerospace & Defense (NYSE:AADX) Sets New 12-Month Low - Here's Why

Key Points

• Applied Aerospace & Defense fell 9.8% to $16.70, reaching a new 52-week low of $16.57, after previously closing at $17.27.
• The company reported a quarterly loss of $1.04 per share, missing the $0.01 consensus estimate by $1.05, while revenue totaled $167.32 million. Analysts expect a full-year loss of $0.61 per share.
• Despite the weak results, analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $24.62; insiders also purchased $1.17 million of stock over the past 90 days, while Wellington Management acquired a roughly $8.4 million stake.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $16.57 and last traded at $16.70, with a volume of 304623 shares. The stock had previously closed at $17.27.

Analyst Ratings Changes

A number of analysts recently commented on AADX shares. Wall Street Zen raised Applied Aerospace & Defense from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Robert W. Baird began coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set an "outperform" rating and a $30.00 price target on the stock. Morgan Stanley boosted their price objective on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Jefferies Financial Group raised shares of Applied Aerospace & Defense to a "strong-buy" rating in a research report on Monday, June 29th. Finally, Stifel Nicolaus started coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued a "buy" rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.62.

Applied Aerospace & Defense Trading Down 9.8%

The stock's 50-day moving average is $19.70.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($1.05). The company had revenue of $167.32 million during the quarter. Equities analysts expect that Applied Aerospace & Defense, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity at Applied Aerospace & Defense

In other Applied Aerospace & Defense news, CFO Jeffrey L. Mcrae bought 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at $500,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Katzman acquired 25,000 shares of Applied Aerospace & Defense stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 29,250 shares of the company's stock, valued at approximately $585,000. The trade was a 588.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 58,500 shares of company stock valued at $1,170,000.

Institutional Trading of Applied Aerospace & Defense

An institutional investor recently bought a new position in Applied Aerospace & Defense stock. Wellington Management Group LLP purchased a new stake in Applied Aerospace & Defense, Inc. (NYSE:AADX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 367,577 shares of the company's stock, valued at approximately $8,373,000. Wellington Management Group LLP owned approximately 0.22% of Applied Aerospace & Defense as of its most recent SEC filing.

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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