Applied Aerospace & Defense (NYSE:AADX) Trading 6.8% Higher - What's Next?

Key Points

• Applied Aerospace & Defense shares rose 6.8% to $12.33 in Friday trading, reaching an intraday high of $12.49, while volume was 32% below the average session volume.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $24.62 price target, although ratings range from “Strong Buy” to “Sell.”
• The company reported a significant quarterly EPS miss, posting a loss of $1.04 versus the $0.01 consensus estimate on $167.32 million in revenue; analysts expect a full-year loss of $0.61 per share.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report)'s share price was up 6.8% during trading on Friday . The stock traded as high as $12.49 and last traded at $12.33. 989,078 shares traded hands during trading, a decline of 32% from the average session volume of 1,450,476 shares. The stock had previously closed at $11.54.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AADX. Zacks Research raised Applied Aerospace & Defense to a "hold" rating in a research note on Tuesday, June 30th. Jefferies Financial Group raised shares of Applied Aerospace & Defense to a "strong-buy" rating in a research report on Monday, June 29th. UBS Group set a $24.00 price objective on shares of Applied Aerospace & Defense in a report on Sunday, June 28th. Weiss Ratings started coverage on shares of Applied Aerospace & Defense in a research note on Friday, August 28th. They set a "sell (d)" rating on the stock. Finally, Royal Bank Of Canada began 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.62.

Applied Aerospace & Defense Stock Performance

The stock's 50-day moving average price is $17.42.

Applied Aerospace & Defense (NYSE:AADX - Get Free Report) last released 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 business had revenue of $167.32 million during the quarter. On average, analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AADX. Wellington Management Group LLP purchased a new stake in Applied Aerospace & Defense during the 2nd quarter valued at $8,373,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Applied Aerospace & Defense in the second quarter worth about $3,044,000. Squarepoint Ops LLC bought a new stake in Applied Aerospace & Defense during the second quarter valued at approximately $1,232,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Applied Aerospace & Defense in the 2nd quarter worth $752,000.

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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