Applied Aerospace & Defense (NYSE:AADX) Shares Down 4.9% - Time to Sell?

Key Points

• Applied Aerospace & Defense shares fell 4.9% to $11.94 in midday trading, well below their 50-day moving average of $18.66.
• The company reported a quarterly loss of $1.04 per share, missing the $0.01 consensus estimate by $1.05, while revenue totaled $167.32 million. Analysts expect a full-year loss of $0.61 per share.
• Despite the weak results, analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.62, and insiders purchased $1.17 million of stock during the last quarter.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) shares dropped 4.9% during mid-day trading on Wednesday . The company traded as low as $11.85 and last traded at $11.94. 1,191,489 shares changed hands during trading, a decline of 15% from the average session volume of 1,397,215 shares. The stock had previously closed at $12.55.

Analysts Set New Price Targets

A number of brokerages have weighed in on AADX. Royal Bank Of Canada started coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set a "moderate buy" rating and a $24.00 price target on the stock. Morgan Stanley raised their target price on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Bank of America reduced their target price 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 raised shares of Applied Aerospace & Defense to a "hold" rating in a research report on Tuesday, June 30th. Finally, UBS Group set a $24.00 price target on Applied Aerospace & Defense in a report on Sunday, June 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Applied Aerospace & Defense presently has an average rating of "Moderate Buy" and a consensus target price of $24.62.

Applied Aerospace & Defense Price Performance

The stock has a fifty day moving average of $18.66.

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

Insider Buying and Selling

In other news, Director James C. Katzman purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average price of $20.00 per share, with a total value of $500,000.00. Following the purchase, the director directly owned 29,250 shares of the company's stock, valued at approximately $585,000. This represents a 588.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey L. Mcrae acquired 25,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the acquisition, the chief financial officer directly owned 25,000 shares in the company, valued at $500,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 58,500 shares of company stock valued at $1,170,000 in the last quarter.

Institutional Investors Weigh In On Applied Aerospace & Defense

Hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP acquired a new stake in shares of Applied Aerospace & Defense during the second quarter worth approximately $752,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Applied Aerospace & Defense in the second quarter valued at $3,044,000. Finally, Wellington Management Group LLP acquired a new stake in Applied Aerospace & Defense in the second quarter valued at $8,373,000.

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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