Applied Aerospace & Defense (NYSE:AADX) Trading Down 4.9% – Time to Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $11.85 and last traded at $11.94. 1,191,489 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 1,397,215 shares. The stock had previously closed at $12.55.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird began coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued an “outperform” rating and a $30.00 price target for the company. Morgan Stanley upped their price objective on Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Zacks Research upgraded Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. Jefferies Financial Group upgraded Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Weiss Ratings initiated coverage on shares of Applied Aerospace & Defense in a report on Friday. They issued a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.62.

Applied Aerospace & Defense Stock Performance

The stock has a fifty day moving average price of $18.66.

Applied Aerospace & Defense (NYSE:AADX) last posted 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 firm had revenue of $167.32 million during the quarter. As a group, sell-side analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Activity at Applied Aerospace & Defense

In related news, CFO Jeffrey L. Mcrae bought 25,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $20.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares of the company’s stock, valued at approximately $500,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James C. Katzman bought 25,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 29,250 shares of the company’s stock, valued at $585,000. The trade was a 588.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 58,500 shares of company stock worth $1,170,000 in the last 90 days.

Hedge Funds Weigh In On Applied Aerospace & Defense

Several institutional investors have recently modified their holdings of AADX. Wellington Management Group LLP acquired a new stake in shares of Applied Aerospace & Defense in the 2nd quarter worth about $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Applied Aerospace & Defense in the 2nd quarter valued at about $3,044,000. Finally, Readystate Asset Management LP acquired a new position in Applied Aerospace & Defense during the 2nd quarter valued at about $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.