Needham & Company LLC Reiterates "Buy" Rating for AEVEX (NYSE:AVEX)

Key Points

• Needham & Company reaffirmed its “Buy” rating on AEVEX with a $45 price target, implying approximately 99.7% upside from the previous close.
• Analyst sentiment remains broadly positive: nine analysts rate AEVEX a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average target of $35.62.
• AEVEX shares opened at $22.53, with a $2.57 billion market capitalization; major shareholder Madison Dearborn Partners recently sold 2.27 million shares for about $59.1 million.

AEVEX (NYSE:AVEX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $45.00 price objective on the stock. Needham & Company LLC's price target points to a potential upside of 99.73% from the stock's previous close.

A number of other brokerages have also issued reports on AVEX. The Goldman Sachs Group initiated coverage on AEVEX in a research report on Tuesday, May 12th. They issued a "buy" rating and a $34.00 target price on the stock. Zacks Research upgraded shares of AEVEX to a "hold" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of AEVEX from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a "buy" rating and issued a $33.00 price objective on shares of AEVEX in a report on Monday, May 25th. Finally, Robert W. Baird started coverage on AEVEX in a report on Tuesday, May 12th. They issued an "outperform" rating and a $38.00 price target for the company. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.62.

AEVEX Stock Performance

Shares of NYSE AVEX opened at $22.53 on Thursday. AEVEX has a 1 year low of $13.07 and a 1 year high of $42.34. The stock has a market capitalization of $2.57 billion and a price-to-earnings ratio of 90.12. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.63 and a current ratio of 2.69. The stock's 50-day simple moving average is $18.43.

Insiders Place Their Bets

In other AEVEX news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $25.99, for a total transaction of $59,097,179.57. Following the transaction, the insider owned 22,861,457 shares of the company's stock, valued at approximately $594,169,267.43. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

AEVEX Company Profile

AEVEX Corp. is a holding company which designs, manufactures and provides autonomous systems and navigation technologies. The company's operating segment includes tactical systems and global solutions. AEVEX Corp. is based in Solana Beach, California.

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