AEVEX (NYSE:AVEX) Shares Down 4.2% - What's Next?

Key Points

• AEVEX shares fell 4.2% to $14.71 in mid-day trading, with volume down 89% versus the stock’s average daily volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $32.56, despite targets ranging from $20 to $45 and one sell rating.
• The company reported quarterly revenue of $201.79 million, up 99.5% year over year and above estimates, but earnings per share of $0.01 missed expectations of $0.06.

AEVEX Corp. (NYSE:AVEX - Get Free Report) was down 4.2% during mid-day trading on Monday. The company traded as low as $14.39 and last traded at $14.71. 228,427 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,100,115 shares. The stock had previously closed at $15.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings began coverage on AEVEX in a report on Friday, August 14th. They set a "sell (d)" rating for the company. Royal Bank Of Canada dropped their price target on AEVEX from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, October 12th. Jefferies Financial Group initiated coverage on AEVEX in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $26.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of AEVEX in a report on Thursday, August 13th. Finally, Piper Sandler assumed coverage on shares of AEVEX in a research note on Wednesday, September 2nd. They set a "neutral" rating and a $20.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.56.

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 stock has a market capitalization of $1.72 billion and a PE ratio of 47.22. The business has a 50 day moving average of $16.86.

AEVEX (NYSE:AVEX - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $201.79 million for the quarter, compared to the consensus estimate of $155.15 million. The business's quarterly revenue was up 99.5% compared to the same quarter last year. Research analysts expect that AEVEX Corp. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVEX. State of Alaska Department of Revenue acquired a new position in AEVEX during the third quarter valued at $45,000. HighTower Advisors LLC acquired a new stake in AEVEX during the 2nd quarter worth about $269,000. WINTON GROUP Ltd acquired a new stake in AEVEX during the 2nd quarter worth about $343,000. Readystate Asset Management LP acquired a new stake in AEVEX during the 2nd quarter worth about $1,044,000. Finally, Concurrent Investment Advisors LLC purchased a new position in AEVEX during the 2nd quarter valued at about $2,381,000.

About AEVEX

AEVEX Aerospace NYSE: AVEX is a defense technology company that develops and delivers aerospace, autonomous systems, and national security solutions. The company supports government and defense customers with capabilities spanning intelligence, surveillance and reconnaissance, precision effects, mission systems, and operational support.

Its offerings include unmanned aircraft systems, autonomous platforms, specialized payloads, counter-unmanned aircraft technologies, signals intelligence and geospatial intelligence solutions, as well as mission planning, training, sustainment, and modernization services.

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