AEVEX (NYSE:AVEX) Stock Price Up 9.2% - Time to Buy?

Key Points

• AEVEX shares jumped 9.2% to $13.31 in mid-day trading, although volume was about 75% below the stock’s average daily level.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and a $28.73 price target, despite recent target cuts and one sell rating.
• The company reported nearly 100% year-over-year revenue growth to $201.79 million, but quarterly EPS of $0.01 missed analysts’ $0.06 estimate.

AEVEX Corp. (NYSE:AVEX - Get Free Report)'s share price rose 9.2% during mid-day trading on Thursday. The company traded as high as $13.34 and last traded at $13.31. Approximately 544,026 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,206,288 shares. The stock had previously closed at $12.19.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AVEX shares. UBS Group set a $13.00 price objective on shares of AEVEX in a research note on Thursday, October 22nd. Piper Sandler cut their target price on AEVEX from $20.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings started coverage on AEVEX in a report on Friday, August 14th. They set a "sell (d)" rating on the stock. Royal Bank Of Canada lowered their price target on AEVEX from $26.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, October 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price objective on shares of AEVEX in a report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AEVEX has a consensus rating of "Moderate Buy" and a consensus price target of $28.73.

AEVEX Stock Up 11.2%

The company has a quick ratio of 5.50, a current ratio of 5.66 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.55 billion and a P/E ratio of 42.38. The company's 50-day moving average is $15.45.

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

Hedge Funds Weigh In On AEVEX

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in AEVEX during the 3rd quarter valued at about $130,000. Pilgrim Partners Asia Pte Ltd purchased a new position in AEVEX in the third quarter worth about $30,000. SBI Securities Co. Ltd. raised its holdings in AEVEX by 157.2% in 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 last quarter. State of Alaska Department of Revenue bought a new position in shares of AEVEX in the third quarter worth approximately $45,000. Finally, State Street Corp bought a new position in shares of AEVEX in the second quarter worth approximately $6,885,000.

AEVEX Company Profile

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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