Applied Aerospace & Defense (NYSE:AADX) Hits New 12-Month Low - Time to Sell?

Key Points

• Applied Aerospace & Defense shares hit a new 52-week low, trading as low as $12.87 and last changing hands at $13.22, well below the 50-day moving average of $18.77.
• The company reported a significant quarterly earnings miss, posting a loss of $1.04 per share versus analysts’ expected profit of $0.01, on revenue of $167.32 million.
• Despite the weak performance, analysts maintain a “Moderate Buy” consensus with an average price target of $24.62, while insiders purchased 58,500 shares worth $1.17 million in the last quarter.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $12.87 and last traded at $13.22, with a volume of 2907610 shares traded. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Jefferies Financial Group raised shares of Applied Aerospace & Defense to a "strong-buy" rating in a research report on Monday, June 29th. Royal Bank Of Canada assumed coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set a "moderate buy" rating and a $24.00 price objective for the company. Robert W. Baird began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set an "outperform" rating and a $30.00 target price for the company. Finally, Bank of America reduced their price objective on Applied Aerospace & Defense from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.62.

Applied Aerospace & Defense Stock Performance

The business's 50-day simple moving average is $18.77.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.05). The firm had revenue of $167.32 million for the quarter. On average, research analysts forecast that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeffrey L. Mcrae bought 25,000 shares of Applied Aerospace & Defense stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $20.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $500,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan D. Lynch bought 8,000 shares of Applied Aerospace & Defense stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $20.00 per share, with a total value of $160,000.00. Following the completion of the transaction, the director directly owned 8,000 shares of the company's stock, valued at approximately $160,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 58,500 shares of company stock valued at $1,170,000.

Institutional Trading of Applied Aerospace & Defense

A number of hedge funds and other institutional investors have recently modified their holdings of AADX. Wellington Management Group LLP acquired a new stake in Applied Aerospace & Defense during the second quarter worth $8,373,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Applied Aerospace & Defense in the 2nd quarter valued at about $3,044,000. Finally, Readystate Asset Management LP purchased a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $752,000.

Applied Aerospace & Defense Company Profile

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.

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