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

Applied Aerospace & Defense, Inc. (NYSE:AADX) gapped up before the market opened 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 changing hands.

Wall Street Analyst Weigh In

AADX has been the subject of several research reports. Stifel Nicolaus initiated coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 target price for the company. Morgan Stanley upped their price target on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Wolfe Research began coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price target on the stock. Jefferies Financial Group raised Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Weiss Ratings started coverage on Applied Aerospace & Defense in a report on Friday, August 28th. They set a “sell (d)” rating 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.22.

Applied Aerospace & Defense Trading Up 0.6%

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

Applied Aerospace & Defense (NYSE:AADX) last issued 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, equities research analysts forecast 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

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in Applied Aerospace & Defense during the 2nd quarter valued at about $8,373,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Applied Aerospace & Defense in the second quarter worth approximately $3,044,000. Squarepoint Ops LLC purchased a new stake in shares of Applied Aerospace & Defense in the second quarter worth approximately $1,232,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Applied Aerospace & Defense in the second quarter worth approximately $752,000.

About Applied Aerospace & Defense

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.