Applied Aerospace & Defense (NYSE:AADX) Reaches New 1-Year Low - Time to Sell?

Key Points

• Applied Aerospace & Defense fell to a new 52-week low, trading as low as $14.02, well below its 50-day moving average of $19.19.
• The company reported a sharp quarterly earnings miss, posting a loss of $1.04 per share versus the consensus estimate of $0.01, on revenue of $167.32 million.
• Despite the weak performance, analysts maintain a “Moderate Buy” consensus with a $24.62 price target, while insiders purchased $1.17 million of shares and several institutions initiated new positions.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $14.02 and last traded at $14.44, with a volume of 1460350 shares. The stock had previously closed at $14.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Zacks Research upgraded Applied Aerospace & Defense to a "hold" rating in a research note on Tuesday, June 30th. Royal Bank Of Canada assumed coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set a "moderate buy" rating and a $24.00 price target for the company. Wolfe Research initiated coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They set an "outperform" rating and a $23.00 price target on the stock. Finally, Wall Street Zen raised Applied Aerospace & Defense from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Applied Aerospace & Defense presently has an average rating of "Moderate Buy" and a consensus price target of $24.62.

Applied Aerospace & Defense Trading Down 0.3%

The business's 50-day simple moving average is $19.19.

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

Insider Buying and Selling

In related news, Director James C. Katzman purchased 25,000 shares of Applied Aerospace & Defense stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the director owned 29,250 shares in the company, valued at $585,000. The trade was a 588.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan D. Lynch purchased 8,000 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $20.00 per share, with a total value of $160,000.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company's stock, valued at $160,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 58,500 shares of company stock valued at $1,170,000 over the last ninety days.

Institutional Trading of Applied Aerospace & Defense

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

About Applied Aerospace & Defense

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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