AEVEX (NYSE:AVEX) Shares Gap Up - Here's Why

Key Points

• AEVEX shares jumped at the open, rising from a prior close of $18.00 to $19.41 before last trading at $18.67. The company has a $2.06 billion market capitalization and a 50-day moving average of $18.01.
• Analysts remain broadly optimistic, with nine Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $35.62.
• AEVEX’s latest quarter showed mixed results: earnings of $0.01 per share missed the $0.06 consensus, but revenue reached $201.79 million—nearly double the prior year and well above expectations.

AEVEX Corp. (NYSE:AVEX - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $18.00, but opened at $19.41. AEVEX shares last traded at $18.67, with a volume of 359,157 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of AEVEX in a research note on Thursday, August 13th. Royal Bank Of Canada assumed coverage on shares of AEVEX in a research note on Tuesday, May 12th. They set an "outperform" rating and a $31.00 price objective for the company. The Goldman Sachs Group began coverage on shares of AEVEX in a research note on Tuesday, May 12th. They set a "buy" rating and a $34.00 price objective for the company. Zacks Research upgraded shares of AEVEX to a "hold" rating in a report on Wednesday, May 13th. Finally, Robert W. Baird assumed coverage on shares of AEVEX in a research report on Tuesday, May 12th. They issued an "outperform" rating and a $38.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.62.

AEVEX Stock Performance

The stock has a 50 day moving average price of $18.01. The firm has a market capitalization of $2.06 billion and a PE ratio of 56.31. The company has a quick ratio of 5.50, a current ratio of 5.66 and a debt-to-equity ratio of 1.15.

AEVEX (NYSE:AVEX - Get Free Report) last announced 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 business had revenue of $201.79 million during the quarter, compared to analysts' expectations of $155.15 million. AEVEX's revenue for the quarter was up 99.5% compared to the same quarter last year. On average, sell-side analysts predict that AEVEX Corp. will post 0.44 earnings per share for the current year.

Insider Activity at AEVEX

In related news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the business's stock in a transaction that occurred on 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 directly owned 22,861,457 shares of the company's stock, valued at approximately $594,169,267.43. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On AEVEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVEX. California State Teachers Retirement System purchased a new position in shares of AEVEX during the 2nd quarter valued at $109,000. Readystate Asset Management LP purchased a new stake in shares of AEVEX during the second quarter worth $1,044,000. Concurrent Investment Advisors LLC purchased a new stake in shares of AEVEX during the second quarter worth $2,381,000. Finally, Alyeska Investment Group L.P. acquired a new stake in AEVEX during the second quarter valued at $19,903,000.

About AEVEX

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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