Applied Aerospace & Defense (NYSE:AADX) Sets New 52-Week Low – Should You Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $11.25 and last traded at $11.65, with a volume of 223592 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AADX. Royal Bank Of Canada began coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They issued a “moderate buy” rating and a $24.00 target price on the stock. Jefferies Financial Group set a $20.00 price objective on shares of Applied Aerospace & Defense in a research note on Monday. Wolfe Research assumed coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price objective on the stock. Bank of America cut their price objective on shares of 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. Finally, Robert W. Baird assumed coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set an “outperform” rating and a $30.00 target price for the company. Two 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Applied Aerospace & Defense Stock Performance

The company has a current ratio of 2.51, a quick ratio of 2.08 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $15.01.

Applied Aerospace & Defense (NYSE:AADX) last announced its quarterly earnings results 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 company had revenue of $167.32 million for the quarter. As a group, sell-side analysts anticipate 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 hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Applied Aerospace & Defense during the 2nd quarter valued at about $1,232,000. Readystate Asset Management LP purchased a new position in shares of Applied Aerospace & Defense in the 2nd quarter valued at about $752,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Applied Aerospace & Defense in the 2nd quarter worth about $3,044,000. Finally, Wellington Management Group LLP acquired a new position in Applied Aerospace & Defense in the 2nd quarter worth about $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.