Applied Aerospace & Defense (NYSE:AADX) Shares Gap Up – Still a Buy?

Shares of 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 traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set an “outperform” rating and a $30.00 price target on the stock. Zacks Research raised shares of Applied Aerospace & Defense to a “hold” rating in a research note on Tuesday, June 30th. UBS Group set a $24.00 target price on Applied Aerospace & Defense in a research report on Sunday, June 28th. Wolfe Research began coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus began coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set a “buy” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Applied Aerospace & Defense has an average rating of “Moderate Buy” and an average price target of $25.22.

Applied Aerospace & Defense Stock Performance

The stock has a 50-day moving average of $16.59.

Applied Aerospace & Defense (NYSE:AADX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The business had revenue of $167.32 million for the quarter. As a group, research analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new stake in Applied Aerospace & Defense in the 2nd quarter valued at $752,000. Squarepoint Ops LLC purchased a new position in Applied Aerospace & Defense in the second quarter valued at about $1,232,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Applied Aerospace & Defense during the second quarter worth about $3,044,000. Finally, Wellington Management Group LLP acquired a new position in shares of Applied Aerospace & Defense during the second 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.