AEVEX (NYSE:AVEX) Reaches New 12-Month Low - Here's What Happened

Key Points

• AEVEX hit a new 52-week low, trading as low as $9.59 on Thursday and last at $9.73, below its prior close of $10.38.
• Its latest reported quarter showed mixed results: earnings per share of $0.01 missed the $0.06 estimate, while revenue of $201.79 million beat expectations and rose 99.5% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus from 11 Buy, two Hold, and one Sell ratings; the average price target is $28.73.

AEVEX Corp. (NYSE:AVEX - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $9.59 and last traded at $9.73, with a volume of 475,316 shares traded. The stock had previously closed at $10.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group set a $13.00 price objective on AEVEX in a research report on Thursday, October 22nd. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of AEVEX in a report on Thursday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of AEVEX in a research note on Thursday, October 22nd. Oppenheimer initiated coverage on AEVEX in a research note on Thursday, October 22nd. They issued an "outperform" rating and a $21.00 price target for the company. Finally, Royal Bank Of Canada cut their price target on shares of AEVEX from $26.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.73.

AEVEX Stock Down 12.5%

The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50. The stock has a fifty day moving average price of $14.83. The company has a market cap of $1.04 billion and a price-to-earnings ratio of 28.38.

AEVEX (NYSE:AVEX - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The business had revenue of $201.79 million during the quarter, compared to analysts' expectations of $155.15 million. The company's quarterly revenue was up 99.5% on a year-over-year basis. Equities research analysts forecast that AEVEX Corp. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On AEVEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVEX. Carret Asset Management LLC bought a new position in shares of AEVEX during the third quarter valued at approximately $497,000. Verus Capital Partners LLC boosted its position in shares of AEVEX by 60.9% in the 3rd quarter. Verus Capital Partners LLC now owns 98,500 shares of the company's stock worth $1,491,000 after purchasing an additional 37,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of AEVEX in the 3rd quarter worth approximately $130,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of AEVEX in the 3rd quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of AEVEX by 157.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company's stock worth $82,000 after buying an additional 3,302 shares during the last quarter.

AEVEX Company Profile

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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