Applied Aerospace & Defense (NYSE:AADX) Shares Climb 9.2% – Should You Buy?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s stock price traded up 9.2% during trading on Wednesday. The company traded as high as $11.42 and last traded at $11.38. Approximately 517,204 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,623,098 shares. The stock had previously closed at $10.42.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Guggenheim started coverage on shares of Applied Aerospace & Defense in a research report on Monday, September 14th. They set a “buy” rating and a $30.00 target price on the stock. Jefferies Financial Group set a $20.00 price target on shares of Applied Aerospace & Defense in a research report on Monday, October 5th. Robert W. Baird started coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Morgan Stanley upped their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Applied Aerospace & Defense Trading Up 6.3%

The stock’s fifty day simple moving average is $14.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.51 and a quick ratio of 2.08. The firm has a market capitalization of $1.91 billion and a PE ratio of -44.32.

Applied Aerospace & Defense (NYSE:AADX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. Equities analysts expect that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Institutional Investors Weigh In On Applied Aerospace & Defense

A number of institutional investors and hedge funds have recently modified their holdings of AADX. Wellington Management Group LLP bought a new position in Applied Aerospace & Defense in the second quarter valued at approximately $8,373,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Applied Aerospace & Defense in the 2nd quarter valued at approximately $3,044,000. Squarepoint Ops LLC bought a new position in Applied Aerospace & Defense during the 2nd quarter worth approximately $1,232,000. Readystate Asset Management LP bought a new position in shares of Applied Aerospace & Defense during the second quarter worth $752,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Applied Aerospace & Defense in the 3rd quarter valued at $120,000.

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.