Applied Aerospace & Defense (NYSE:AADX) Stock Jumps 9.2% - What's Next?

Key Points

• Applied Aerospace & Defense shares jumped 9.2% to $11.38 in mid-day trading, although volume was 68% below the average daily level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $24.33; recent targets range from $21 to $30.
• The company reported a quarterly loss of $1.04 per share, missing the $0.01 consensus estimate by $1.05, while reporting $167.32 million in revenue. Several institutional investors nonetheless initiated or expanded positions.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report)'s stock price was up 9.2% during mid-day trading on Wednesday. The company traded as high as $11.42 and last traded at $11.38. Approximately 517,204 shares traded hands during trading, a decline of 68% from the average daily volume of 1,623,098 shares. The stock had previously closed at $10.42.

Analyst Ratings Changes

A number of research firms have recently issued reports on AADX. Wolfe Research assumed coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued an "outperform" rating and a $23.00 target price for the company. Royal Bank Of Canada reduced their price target on Applied Aerospace & Defense from $24.00 to $21.00 and set an "outperform" rating for the company in a report on Tuesday. Morgan Stanley increased their price objective 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. UBS Group set a $24.00 price objective on Applied Aerospace & Defense in a report on Sunday, June 28th. Finally, Guggenheim started coverage on Applied Aerospace & Defense in a report on Monday, September 14th. They issued a "buy" rating and a $30.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Applied Aerospace & Defense has an average rating of "Moderate Buy" and a consensus target price of $24.33.

Applied Aerospace & Defense Stock Up 6.3%

The firm's 50 day moving average price is $14.10. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.91 billion and a price-to-earnings ratio of -44.32.

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 the consensus estimate of $0.01 by ($1.05). The firm had revenue of $167.32 million for the quarter. As a group, equities analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Applied Aerospace & Defense during the 2nd quarter valued at $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Applied Aerospace & Defense in the 2nd quarter valued at approximately $3,044,000. Squarepoint Ops LLC acquired a new stake in Applied Aerospace & Defense in the second quarter valued at approximately $1,232,000. Readystate Asset Management LP bought a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at $752,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Applied Aerospace & Defense during the 3rd quarter valued at $120,000.

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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