Applied Aerospace & Defense (NYSE:AADX) Shares Gap Up - What's Next?

Key Points

• Applied Aerospace & Defense shares opened higher, rising from a prior close of $11.65 to $12.07 before trading near $11.74 on volume of 165,592 shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $25.22, well above the recent trading price.
• The company reported a significant quarterly EPS miss of $1.05, posting a loss of $1.04 per share versus expectations of $0.01, although revenue reached $167.32 million; several institutional investors also initiated new positions.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $11.65, but opened at $12.07. Applied Aerospace & Defense shares last traded at $11.74, with a volume of 165,592 shares trading hands.

Wall Street Analysts Forecast Growth

AADX has been the subject of several recent research reports. Morgan Stanley increased their price target on 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 cut their price objective on Applied Aerospace & Defense from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Zacks Research upgraded Applied Aerospace & Defense to a "hold" rating in a report on Tuesday, June 30th. Royal Bank Of Canada initiated 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 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set a "buy" rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Applied Aerospace & Defense has an average rating of "Moderate Buy" and a consensus target price of $25.22.

Applied Aerospace & Defense Price Performance

The stock has a fifty day moving average price of $16.98.

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

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors and hedge funds have recently modified their holdings of the business. Readystate Asset Management LP bought a new stake in shares of Applied Aerospace & Defense in the 2nd quarter valued at $752,000. Squarepoint Ops LLC acquired a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at $1,232,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at $3,044,000. Finally, Wellington Management Group LLP bought a new position in Applied Aerospace & Defense during the second quarter worth $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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