Applied Aerospace & Defense (NYSE:AADX) Sets New 52-Week Low – What’s Next?

Applied Aerospace & Defense, Inc. (NYSE:AADX) hit a new 52-week low on Thursday. The company traded as low as $10.07 and last traded at $10.21, with a volume of 253,972 shares trading hands. The stock had previously closed at $10.58.

Analysts Set New Price Targets

AADX has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price objective on Applied Aerospace & Defense from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Guggenheim initiated coverage on shares of Applied Aerospace & Defense in a research report on Monday, September 14th. They issued a “buy” rating and a $30.00 price target for the company. Zacks Research upgraded shares of Applied Aerospace & Defense to a “hold” rating in a research note on Tuesday, June 30th. Bank of America decreased their price target 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. Finally, Wolfe Research assumed coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set an “outperform” rating and a $23.00 price objective on the stock. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Applied Aerospace & Defense presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.44.

Applied Aerospace & Defense Trading Up 1.2%

The business’s 50 day moving average is $12.58. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.73 billion and a PE ratio of -40.08.

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

Hedge Funds Weigh In On Applied Aerospace & Defense

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in Applied Aerospace & Defense by 1,171.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,199 shares of the company’s stock worth $26,000 after buying an additional 2,026 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Applied Aerospace & Defense in the 3rd quarter worth $29,000. Farther Finance Advisors LLC acquired a new stake in shares of Applied Aerospace & Defense in the 3rd quarter worth $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Applied Aerospace & Defense in the third quarter valued at about $60,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Applied Aerospace & Defense in the third quarter valued at about $120,000.

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.