AEVEX (NYSE:AVEX) Stock Price Down 4.2% - Here's What Happened

Key Points

• AEVEX shares fell 4.2% to $15.82 in Tuesday trading, with volume down sharply to about 220,400 shares versus a daily average of 2.16 million.
• Analyst sentiment remains broadly positive: nine analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $33.89, despite one Sell and one Neutral rating.
• The company’s latest quarter showed a mixed performance: earnings per share of $0.01 missed the $0.06 estimate, while revenue of $201.79 million beat expectations and grew 99.5% year over year.

Shares of AEVEX Corp. (NYSE:AVEX - Get Free Report) dropped 4.2% during trading on Tuesday . The stock traded as low as $15.70 and last traded at $15.82. Approximately 220,400 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,162,908 shares. The stock had previously closed at $16.51.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVEX. JPMorgan Chase & Co. raised their price objective on AEVEX from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Jefferies Financial Group reiterated a "buy" rating and set a $33.00 target price on shares of AEVEX in a research report on Monday, May 25th. Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of AEVEX in a report on Thursday, August 13th. Weiss Ratings began coverage on shares of AEVEX in a research note on Friday, August 14th. They set a "sell (d)" rating for the company. Finally, Piper Sandler initiated coverage on shares of AEVEX in a report on Wednesday, September 2nd. They set a "neutral" rating and a $20.00 price objective on the stock. Nine 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.89.

AEVEX Trading Down 4.7%

The stock has a 50-day moving average of $17.45. The firm has a market capitalization of $1.79 billion and a PE ratio of 49.19. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15.

AEVEX (NYSE:AVEX - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $155.15 million. The business's revenue was up 99.5% compared to the same quarter last year. On average, equities analysts predict that AEVEX Corp. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVEX. Alyeska Investment Group L.P. purchased a new stake in shares of AEVEX in the second quarter worth about $19,903,000. Concurrent Investment Advisors LLC purchased a new stake in shares of AEVEX during the second quarter valued at approximately $2,381,000. Readystate Asset Management LP acquired a new position in shares of AEVEX during the second quarter worth $1,044,000. WINTON GROUP Ltd purchased a new position in shares of AEVEX in the second quarter valued at $343,000. Finally, HighTower Advisors LLC acquired a new stake in AEVEX during the 2nd quarter valued at $269,000.

About AEVEX

AEVEX Aerospace, Inc is a defense and aerospace company that develops and delivers mission-focused technologies and services for government and defense customers. Its work centers on intelligence, surveillance and reconnaissance, electronic warfare, uncrewed aircraft systems, and other specialized airborne capabilities.

The company provides engineering, aircraft modification, systems integration, training, maintenance, and operational support. Its offerings are designed to help customers collect and analyze intelligence, operate in contested electromagnetic environments, conduct airborne missions, and address emerging threats such as unmanned systems.

AEVEX serves U.S.

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