Applied Aerospace & Defense (NYSE:AADX) Stock Price Down 15.4% - Should You Sell?

Key Points

• Applied Aerospace & Defense shares fell 15.4% to $9.36, while trading volume was 56% below its average.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $23.11; several brokerages recently cut their targets.
• The company reported a quarterly loss of $1.04 per share, missing the consensus estimate of $0.01 per share; revenue was $167.32 million.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) shares fell 15.4% on Wednesday. The company traded as low as $9.36 and last traded at $9.36. 759,878 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,729,416 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

A number of brokerages have commented on AADX. Bank of America decreased their price objective on Applied Aerospace & Defense from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Morgan Stanley decreased their price target on Applied Aerospace & Defense from $24.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, October 16th. Royal Bank Of Canada lowered their target price on shares of Applied Aerospace & Defense from $21.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 28th. Jefferies Financial Group set a $20.00 price target on Applied Aerospace & Defense in a research report on Monday, October 5th. Finally, Guggenheim started coverage on shares of Applied Aerospace & Defense in a research report on Monday, September 14th. They set a "buy" rating and a $30.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.11.

Applied Aerospace & Defense Trading Down 14.5%

The firm has a market capitalization of $1.63 billion and a PE ratio of -37.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.51 and a quick ratio of 2.08. The stock's fifty day simple moving average is $11.91.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last issued its quarterly 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 company had revenue of $167.32 million for the quarter. Equities analysts expect that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Institutional Investors Weigh In On Applied Aerospace & Defense

Several institutional investors have recently modified their holdings of AADX. SBI Securities Co. Ltd. raised its position in shares of Applied Aerospace & Defense by 1,171.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,199 shares of the company's stock valued at $26,000 after acquiring an additional 2,026 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Applied Aerospace & Defense during the third quarter worth $29,000. Fortitude Family Office LLC acquired a new position in shares of Applied Aerospace & Defense during the third quarter worth about $29,000. Mountain Hill Investment Partners Corp. acquired a new position in Applied Aerospace & Defense during the 3rd quarter worth approximately $60,000. Finally, State of Wyoming bought a new position in shares of Applied Aerospace & Defense in the 3rd quarter valued at about $80,000.

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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