AEVEX (NYSE:AVEX) Shares Gap Up on Analyst Upgrade

Key Points

• AEVEX shares jumped after Piper Sandler raised its price target from $13 to $15, while keeping a Neutral rating; the stock opened at $13.65, up from its prior close of $12.13.
• Quarterly revenue rose 56.5% year over year, but AEVEX reported a loss of $0.40 per share, missing analysts’ estimate of $0.09 earnings per share.
• Analyst views remain mixed, though the consensus rating is Moderate Buy with a $27.55 average price target; 11 analysts rate the stock Buy, two Hold, and one Sell.

AEVEX Corp. (NYSE:AVEX - Get Free Report)'s share price gapped up prior to trading on Thursday after Piper Sandler raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $12.13, but opened at $13.65. Piper Sandler currently has a neutral rating on the stock. AEVEX shares last traded at $14.20, with a volume of 1,239,535 shares changing hands.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC lowered their price objective on shares of AEVEX from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday. Oppenheimer began coverage on shares of AEVEX in a research report on Thursday, October 22nd. They set an "outperform" rating and a $21.00 price objective for the company. Weiss Ratings began coverage on shares of AEVEX in a research note on Friday, August 14th. They issued a "sell (d)" rating for the company. UBS Group set a $13.00 target price on shares of AEVEX in a report on Thursday, October 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of AEVEX in a research note on Thursday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.55.

Key Headlines Impacting AEVEX

These are some of the AVEX headlines that stood out recently:

• Positive Sentiment: Adjusted EBITDA increased to $30.8 million from $17.8 million a year earlier. Reports also point to funded orders as an important factor behind the improved outlook. Outlook and funded orders
• Neutral Sentiment: Piper Sandler raised its target to $15 from $13 but maintained a Neutral rating, reflecting a more modestly optimistic view. Piper Sandler rating
• Negative Sentiment: The company posted a net loss of $16.8 million versus net income of $9.9 million a year earlier, and EPS of negative $0.40 missed analysts’ expectation of positive $0.09. Q3 loss and revenue report

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd acquired a new position in AEVEX during the third quarter worth $30,000. State of Alaska Department of Revenue acquired a new stake in AEVEX in the third quarter valued at $45,000. SBI Securities Co. Ltd. increased its position in shares of AEVEX by 157.2% in the third quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company's stock valued at $82,000 after buying an additional 3,302 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AEVEX in the third quarter valued at $130,000. Finally, HighTower Advisors LLC purchased a new position in shares of AEVEX in the second quarter valued at $269,000.

AEVEX Stock Up 17.4%

The firm has a market cap of $1.62 billion and a price-to-earnings ratio of 44.50. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $14.14 and a 200-day moving average price of $19.35.

AEVEX (NYSE:AVEX - Get Free Report) last posted its earnings results on Wednesday, November 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.49). The company's quarterly revenue was up 56.5% compared to the same quarter last year. On average, equities analysts forecast that AEVEX Corp. will post 0.48 EPS for the current year.

About AEVEX

AEVEX Corporation NYSE: AVEX provides defense and intelligence customers with unmanned aircraft systems and related mission solutions. Its work includes designing, building and integrating aircraft, sensors and other mission equipment for operational use. The company also offers engineering, training and operational support services. These capabilities help customers plan and conduct missions that rely on aerial surveillance, reconnaissance and other specialized aviation functions. AEVEX serves government and defense customers, including U.S. and allied users.

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