AEVEX (NYSE:AVEX) Shares Down 13.7% - What's Next?

Key Points

• AEVEX shares fell 13.7% to $10.30 in Wednesday trading, after closing at $11.93; trading volume was about 75% below its average.
• Analyst views are mixed: Piper Sandler cut its target to $13 and rated the stock neutral, while Jefferies maintained a buy rating and Oppenheimer initiated an outperform rating with a $21 target. Overall, analysts’ consensus is “Moderate Buy,” with an average target of $28.73.
• AEVEX’s latest reported quarter showed revenue up 99.5% year over year to $201.79 million, beating estimates, but EPS of $0.01 missed the $0.06 consensus.

AEVEX Corp. (NYSE:AVEX - Get Free Report) shares traded down 13.7% on Wednesday. The company traded as low as $10.22 and last traded at $10.30. Approximately 556,583 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 2,183,282 shares. The stock had previously closed at $11.93.

Analyst Upgrades and Downgrades

AVEX has been the subject of several recent analyst reports. Piper Sandler reduced their price target on AEVEX from $20.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, October 22nd. Jefferies Financial Group reissued a "buy" rating on shares of AEVEX in a report on Thursday, October 22nd. Weiss Ratings assumed coverage on shares of AEVEX in a research note on Friday, August 14th. They set a "sell (d)" rating on the stock. Oppenheimer began coverage on shares of AEVEX in a research note on Thursday, October 22nd. They issued an "outperform" rating and a $21.00 price objective for the company. Finally, UBS Group set a $13.00 price objective on shares of AEVEX in a report on Thursday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.73.

AEVEX Stock Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.50 and a current ratio of 5.66. The company has a market cap of $1.16 billion and a PE ratio of 31.66. The stock's fifty day simple moving average is $14.97.

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

Hedge Funds Weigh In On AEVEX

A number of hedge funds have recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of AEVEX during the 3rd quarter worth about $30,000. State of Alaska Department of Revenue acquired a new position in AEVEX during the third quarter valued at approximately $45,000. SBI Securities Co. Ltd. grew its stake in AEVEX by 157.2% during the third 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 period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of AEVEX in the third quarter worth $130,000. Finally, HighTower Advisors LLC purchased a new position in shares of AEVEX in the 2nd quarter valued at $269,000.

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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