Applied Aerospace & Defense (NYSE:AADX) Stock Price Target Lowered at Guggenheim

Applied Aerospace & Defense (NYSE:AADX) had its target price decreased by stock analysts at Guggenheim from $30.00 to $15.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim‘s price objective indicates a potential upside of 73.21% from the company’s previous close.

Several other analysts also recently issued reports on AADX. Bank of America decreased their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Royal Bank Of Canada cut their target price on Applied Aerospace & Defense from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group set a $20.00 target price on Applied Aerospace & Defense in a research note on Monday, October 5th. Stifel Nicolaus reduced their price target on Applied Aerospace & Defense from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Weiss Ratings began coverage on Applied Aerospace & Defense in a research note on Friday, August 28th. They set a “sell (d)” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.56.

Applied Aerospace & Defense Trading Down 6.9%

Applied Aerospace & Defense stock opened at $8.66 on Friday. The business has a 50-day moving average price of $11.37. The company has a market cap of $1.49 billion and a price-to-earnings ratio of -34.64. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51. Applied Aerospace & Defense has a 12-month low of $8.40 and a 12-month high of $24.24.

Applied Aerospace & Defense (NYSE:AADX) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The firm had revenue of $182.06 million for the quarter. As a group, sell-side analysts predict that Applied Aerospace & Defense will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp purchased a new stake in Applied Aerospace & Defense in the 3rd quarter valued at about $7,172,000. Voya Investment Management LLC bought a new position in Applied Aerospace & Defense in the 3rd quarter worth about $21,368,000. Roubaix Capital LLC increased its position in shares of Applied Aerospace & Defense by 98.3% during the third quarter. Roubaix Capital LLC now owns 508,131 shares of the company’s stock worth $6,113,000 after acquiring an additional 251,891 shares during the period. First Eagle Investment Management LLC increased its position in shares of Applied Aerospace & Defense by 224.4% during the third quarter. First Eagle Investment Management LLC now owns 811,000 shares of the company’s stock worth $9,756,000 after acquiring an additional 561,000 shares during the period. Finally, HighTower Advisors LLC purchased a new position in shares of Applied Aerospace & Defense during the third quarter worth approximately $241,000.

Key Applied Aerospace & Defense News

Here’s some of the latest news about AADX:

• Positive Sentiment: Third-quarter revenue rose 48.6% to $182.1 million, and earnings of $0.18 per share beat the $0.09 consensus estimate. The company also reported a record backlog of nearly $1.3 billion. Quarterly earnings results Long-term investor takeaways
• Positive Sentiment: Stifel Nicolaus set an $18 price target and maintained a buy rating; Morgan Stanley raised its target to $17. A Seeking Alpha opinion piece also argues the steep post-IPO decline may present a buying opportunity. Stifel price target Morgan Stanley price target Seeking Alpha opinion
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley’s rating is equal weight, while RBC cut its target from $18 to $15 but retained an outperform rating. RBC rating and target

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.